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NorthWest Healthcare Properties Real Estate Investment Trust announces public offering of $75 million of trust units
Toronto (Ontario), October 13, 2010 - NorthWest Healthcare Properties Real Estate Investment Trust (the “REIT”) (TSX:NWH.UN) announced today that it has reached an agreement with a syndicate of underwriters led by RBC Capital Markets to issue to the public, subject to regulatory approval, on a bought deal basis, 6,495,000 trust units at a price of $11.55 per unit representing gross proceeds of $75,017,250. The REIT has granted the underwriters an overallotment
option exercisable in whole or in part at any time up to 30 days after closing, to purchase up to an additional 974,250 units at the same offering price.
The net proceeds from this offering (after deducting the Underwriters’ fee and estimated offering expenses) will be used to fund future property acquisitions, to repay indebtedness and for general trust purposes.
The REIT will, by October 15, 2010, file with the securities commissions and other similar regulatory authorities in each of the provinces and territories of Canada a preliminary short form prospectus relating to the issuance of the units. Closing of the offering is expected to take place on or about October 29, 2010.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933 as amended and may not be offered or sold in the United States absent registration or pursuant to applicable exemption from registration.
About NorthWest Healthcare Properties Real Estate Investment Trust NorthWest Healthcare Properties Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT holds a portfolio of 48 income-producing properties, with a focus on medical office buildings and healthcare real estate, comprising approximately 3.0 million square feet of gross leasable area located in British Columbia, Alberta, Ontario, Québec, Nova Scotia and New Brunswick.
The press release contains forward-looking information based on management’s best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, the REIT’s operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, or similar words suggesting future outcomes. Such
forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.
Although the forward-looking statements contained in this press release are based on what management of the REIT believes are reasonable assumptions, forward-looking statements involve significant risks and uncertainties. They should not be read as guarantees of future performance or results and will not necessarily be an accurate indicator of whether or not such results will be achieved. Readers are cautioned not to place undue reliance on forward-looking
statements as a number of factors could cause actual future results to differ from targets, expectations or estimates expressed in the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, economic, competitive and commercial real estate conditions, unplanned compliance-related expenses, uninsured property losses and tenant-related risks.
For further information, please contact:
Mike Brady, Senior Vice President, NorthWest Healthcare Properties Real Estate Investment
Trust, (416) 366-2000 ext. 243, or www.nwhp.ca