Sunrise Senior Living to Bring its World-Class Senior Care to Welltower’s New York City Development Project

New community will offer innovative memory care and assisted living
services to New York City’s aging population

Senior Living
has been named operator of Welltower’s
senior living community being developed in Midtown Manhattan. The
project, in collaboration with international real estate firm Hines,
is planned for the northeast corner of 56th Street and
Lexington Avenue. Slated for a late 2019 opening, the residential
community will promote wellness for its senior residents in need of
high-quality assisted living and memory care services.

“We believe Sunrise is an ideal partner for us to work with to
revolutionize the concept of senior living and meet the needs of the
underserved aging population on the island of Manhattan,” said Thomas
DeRosa, CEO, Welltower. “Leveraging Sunrise’s world-class memory
programming and services, this new community will distinctively
benefit those with Alzheimer’s and other forms of dementia, including
residents in the early stages of memory loss. Further, Sunrise’s
approach to care will help ensure all residents receive highly
individualized service.”

Sunrise currently serves residents at approximately 30 communities
throughout the New York City metro area and has 35 years of experience
in the assisted living and memory care industry. Welltower’s portfolio
currently includes 72 seniors housing communities in the New York
tristate area including properties in New York, New Jersey and

“Throughout the world, Sunrise is known for its premium product,
including our innovative programming
and personalized approach to care. We are perfectly positioned to
provide our services in a location like Midtown Manhattan, complemented
by prime access to healthcare facilities, retail, restaurants and
cultural institutions,” said Chris
, Chief Executive Officer for Sunrise. “This purpose-built
residence will be the first of its kind and will allow seniors to
continue to call Manhattan home while receiving the high-quality care
they need.”

The Manhattan development will support the underserved senior
demographic. By the year 2030, the city’s 60+ population will make up
one in every five New Yorkers.1 There are few senior living
communities on Manhattan, which has fewer than 75 beds that are fully
licensed by the New York State Department of Health to provide assisted
living and memory care services.

The 15-story building, with 125,000 square feet of living space, is
inspired by the classic style of Park Avenue apartments. The physical
space will promote a local feel with large windows that take in city
views, smaller neighborhood touches throughout different areas and
floors, and outdoor living spaces that provide a comfortable transition
for current city-residents. To promote local community engagement,
Sunrise will help residents take advantage of city living by offering
its evidence-based programming
that encourages seniors to engage, express, learn and grow. The
community will be integrated into the greater neighborhood by building
local partnerships, opening its doors to volunteers and creating
intergenerational relationships with nearby schools.

Sunrise continues to collaborate with Welltower and Hines on design
plans so that the new property is built and beautifully appointed with
seniors’ unique needs in mind, including the incorporation of sensory
elements for those with memory loss, carefully choosing colors that are
best for aging eyesight and creating comfortable, safe spaces for all
residents to enjoy.

About Sunrise Senior Living

Sunrise Senior Living, a McLean, Va.-based company, employs
approximately 31,000 people. As of August 1, 2016, Sunrise operated 310
communities in the United States, Canada and the United Kingdom,
including 16 Gracewell Healthcare communities, with a total unit
capacity of approximately 27,600. 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.
Sunrise’s senior living services are delivered by team members who are
trained to encourage independence, preserve dignity, enable freedom of
choice and protect the privacy of residents. For ongoing information
about Sunrise communities and senior-related topics, read The
Sunrise Blog
and follow us on Facebook.
To learn more about Sunrise, please visit

About Welltower

Welltower Inc. (NYSE:HCN), 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 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

Forward-Looking Statements and Risk Factors

This press release contains “forward-looking statements” as that term is
defined in the Private Securities Litigation Reform Act of 1995. When
Welltower uses words such as “may,” “will,” “intend,” “should,”
“believe,” “expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. In particular, these forward-looking
statements include, but are not limited to, those relating to
Welltower’s ability to complete the Manhattan development on currently
anticipated terms, or within currently anticipated timeframes; the
expected performance of Welltower’s operators/tenants and properties;
Welltower’s expected occupancy rates; and Welltower’s ability to access
capital markets or other sources of funds. Forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties that may cause Welltower’s actual results to differ
materially from its expectations discussed in the forward-looking
statements. This may be a result of various factors, including, but not
limited to: the receipt of regulatory approvals and third-party consents
in connection with the Manhattan development; the respective parties’
performance of their obligations under the Manhattan development
agreements; the receipt of applicable healthcare licenses and
governmental approvals; unanticipated difficulties and/or expenditures
relating to the Manhattan development; the status of the economy; the
status of capital markets, including availability and cost of capital;
changes in financing terms; competition within the health care and
seniors housing industries; negative developments in the operating
results or financial condition of operators/tenants, including, but not
limited to, their ability to pay rent and repay loans; operator/tenant
or joint venture partner bankruptcies or insolvencies; the cooperation
of joint venture partners; and other risks described in Welltower’s
Annual Report on Form 10-K and in its other reports filed from time to
time with the Securities and Exchange Commission. Finally, Welltower
undertakes no obligation to update or revise publicly any
forward-looking statements, whether because of new information, future
events or otherwise, or to update the reasons why actual results could
differ from those projected in any forward-looking statements.

1 New York City Department for the Aging


Sunrise Senior Living
Jennifer Clark, 703-854-0329
Montresor, 419-214-5798