TORONTO, April 19,
2022 /CNW/ - NorthWest Healthcare Properties Real
Estate Investment Trust (the (TSX: NWH.UN) ("NorthWest" or the
"REIT"), Canada's leading
global diversified healthcare real estate investment trust,
announced today the closing of its previously announced
$765 million (US$601.9 million) acquisition of 27 cure-focused
healthcare properties located in the
United States is now closed (the "US Portfolio"). The
acquisition is the REIT's first in the
United States.
The US Portfolio comprises 27 properties including 7 hospitals,
5 micro-hospitals, and 15 MOBs totaling 1.2 million square
feet. The portfolio is 97% occupied, with a weighted average lease
expiry of 10.7 years and is geographically diversified across 10
states with approximately 60% of NOI coming from top 20 US MSAs
with a focus in the Greater Chicago Area and Sunbelt
States. The portfolio includes an attractive mix of single-tenant
(78% of NOI) and multi-tenant (22%) properties and 91% of NOI is
either triple or quadruple net.
As funded, the transaction is expected to be
immediately accretive to the REIT's AFFO per unit. As the REIT
integrates the US Portfolio and expands on its market entry
strategy over the course of 2022 it intends to recapitalize the
acquisition with a new co-investment partner.
About NorthWest Healthcare
Properties Real Estate Investment Trust
NorthWest is a global real estate investor and asset manager
focused on properties and partnerships at the intersection of
healthcare, knowledge and research. Founded in 2004 and publicly
traded since 2010, NorthWest (TSX: NWH.UN) is a real estate
investment trust that owns and operates a $10 billion portfolio of 224 high quality
healthcare properties across Canada, the United
States, Brazil, the UK,
Germany, the Netherlands, Australia, and New
Zealand. With more than 300 professionals globally,
operating in 7 countries, NorthWest brings a global view, local
execution capabilities, and a long-term ownership strategy which
allows it to serve as a real estate partner of choice to leading
healthcare operators around the world.
SOURCE NorthWest Healthcare Properties Real Estate Investment
Trust