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NorthWest Healthcare Properties Real Estate Investment Trust Files Preliminary Prospectus for Initial Public Offering
Toronto , ON, February 10, 2010 – NorthWest Healthcare Properties Real Estate Investment Trust (the "REIT") announced today that it has filed a preliminary prospectus for the initial public offering of trust units (the "Units") with the securities commissions of all provinces and territories in Canada. The proposed offering is being underwritten by a syndicate of underwriters led by RBC Capital Markets and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Financial Ltd., Macquarie Capital Markets Canada Ltd. and Versant Partners Inc.
The preliminary prospectus has not yet become final for the purpose of a distribution of securities to the public. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in such province or territory. Copies of the preliminary prospectus will be available on the website www.sedar.com.
Completion of the initial public offering is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals. These securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of that Act. This news release does not constitute an offer for sale of these securities in the United States of America.
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. On or before the closing of the offering, the REIT will acquire a portfolio of 45 income-producing properties, with a focus on medical office buildings primarily occupied by doctors, dentists, other medical professionals and related healthcare service providers such as pharmacies, laboratories and diagnostic imaging clinics. The REIT will own a diversified mix of such properties with approximately 2.7 million square feet of gross leasable area located in British Columbia, Alberta, Ontario, Québec, Nova Scotia and New Brunswick.
The REIT employs an experienced real estate management team and benefits from a broad network of relationships and commercial property and financing expertise within the medical office building and healthcare focused real estate industry.
For further information, please contact:
Peter Riggin , Chief Executive Officer
NorthWest Healthcare Properties Real Estate Investment Trust
(416) 366-2000 ext. 224
This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.