Hines & Welltower Break Ground on Sunrise at East 56th

NEW YORK, March 5 -- Hines issued the following news release:

Hines, the international real estate firm, and Welltower Inc. (NYSE:WELL), a leader in health care infrastructure, today commenced construction of a 16-story tower at 139 East 56th Street to house Midtown Manhattan's first purpose-built assisted living and memory care community. The property, Sunrise at East 56th, also known as "The Welltower," will house complementary retail at the base, and feature 151 units offering the highest quality of care and the latest in health care innovation.

The development, which will be completed in early 2020, will be managed by Sunrise Senior Living, which recently was recognized by J.D. Power as ranking "Highest in Customer Satisfaction among Senior Living Communities."

Sunrise at East 56th is designed by architect SLCE, with interiors by Champalimaud. The property will feature large windows, multiple terraces and outdoor gardens, and many common areas to meet the needs and interests of residents, including dining rooms, a salon, exercise facilities, medical examination rooms, an art studio and a theater.

"Hines has developed extraordinary residential properties around the world, and with Sunrise at East 56th, we enter the senior housing sector with a single-minded focus on bringing our track record for excellence and innovation," said Sarah Hawkins, managing director of Hines. "We are working with Welltower and Sunrise to bring evidence-based wellness programs to this development, to deliver services that will enhance our residents' lives and health in many ways."

Wellness features include air purification systems, circadian lighting, and programming to bring exercise, meditation and healthy patterns into residents' lives. The community will be centrally located in Manhattan, in close proximity to a number of New York's top health care providers.

"Welltower is committed to bringing the highest quality seniors housing to core urban locations where there are currently few options for the aging population," commented Mercedes Kerr, executive vice president - business and relationship management at Welltower. "Seniors want to stay in their cities as they age and Sunrise at East 56th will present New Yorkers with a world-class option in the heart of the city."

"We are so pleased to join these distinguished teams at Hines and Welltower to deliver our first-rate care in this one-of-a-kind senior living community," said Chris Winkle, CEO for Sunrise Senior Living. "For more than 35 years, Sunrise has been the leader in personalizing high-quality care for seniors, and Manhattan residents will soon have the opportunity to experience it."

Sunrise at East 56th will begin pre-leasing in 2019. Early information about the future senior living community can be found at sunriseeast56.com.

About Welltower

Welltower Inc. (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower(TM), a real estate investment trust ("REIT"), owns more than 1,400 properties in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. More information is available at www.welltower.com.

About Sunrise Senior Living

Sunrise Senior Living, a McLean, Va.-based company, employs approximately 32,000 people. As of February 23, 2018, Sunrise operated 324 communities in the United States, Canada and the United Kingdom, with a total unit capacity of approximately 28,800. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services. In 2018, Sunrise became the first senior living company to be ranked "Highest in Customer Satisfaction among Senior Living Communities" by J.D. Power. For J.D. Power award information, visit jdpower.com. To learn more about Sunrise, please visit SunriseSeniorLiving.com.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 24 countries. Hines has approximately $111 billion of assets under management, including $60 billion for which Hines provides fiduciary investment management services, and $51 billion for which Hines provides third-party property-level services. The firm has 108 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,295 properties, totaling over 422 million square feet. The firm's current property and asset management portfolio includes 506 properties, representing over 210 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.