Welltower® Inc. (NYSE: WELL) today announced the formation of a new relationship with Monarch Communities ("Monarch"), a vertically integrated senior living provider with expertise in development, design-build, management and long-term ownership. Monarch is a new brand founded by industry veterans Michael Glynn, Ross Dingman, and Andrew Teeters, who have decades of senior living experience.
The company was formed in 2019 based on the idea that the wellness of all community members— residents, their families, and Monarch team members—can be enhanced through superior design, technology, and people. This new relationship is focused on developing, re-developing, and managing next-generation integrated independent and assisted living communities. Monarch creates an environment that enables residents to enjoy an empowered, active, and engaged life with a focus on health and wellness for body and mind. Welltower's investment in Monarch will give Welltower exclusive access to Monarch's expertise in developing and operating senior living communities in premium micro markets throughout the United States.
"Monarch is an ideal fit to our long-term vision in senior living," said Shankh Mitra, Welltower's Chief Executive Officer. "Monarch's turnkey business model will create a vertically integrated solution for all aspects of the senior living space—from sourcing opportunities, to design and construction, to operations and long-term ownership. We are excited to be partnering with Michael, Andrew and Ross and supporting their dynamic paradigm for the future of senior living."
"Welltower is the leading platform in senior living with unique capabilities including its best-in-class analytics platform, a true partnership-oriented culture, and long-term capital solutions," said Michael Glynn, Monarch's Managing Partner. "We are thrilled to partner with Welltower to advance the quality of housing and care options for seniors. We are energized by this partnership, which allows us to deliver our brand of wellness to more communities, seniors, and their families."
The partnership is breaking ground this month on its inaugural senior housing development, Monarch Cooper's Corner, located in New Rochelle, New York. Welltower and Monarch are also working together to reposition several Welltower communities in the Mid-Atlantic and Northeast regions.
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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, a real estate investment trust (REIT), owns interests in properties concentrated in major, high growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. For more information, visit www.welltower.com.
About Monarch Communities
Monarch Communities develops, operates, design-builds (with its affiliate, PROCON) and owns senior living communities. Monarch strives to enhance the wellness of team members, residents and their families through leadership in design, technology and operations. The Company has offices in New York, New Hampshire, and Maryland and was founded in 2019. For more information, visit www.monarchcommunities.com.