NorthWest Healthcare Properties Real Estate Investment Trust announces exercise of Over-Allotment Option

09-19-2013

TORONTO, Sep. 19, 2013, 2013 (Canada NewsWire via COMTEX) --/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

NorthWest Healthcare Properties Real Estate Investment Trust (the "REIT") (TSX:NWH.UN) announces the exercise in full by the underwriters of the over-allotment option (the "Over-Allotment Option") relating to its previously announced offering (the "Offering") of $35,000,000 aggregate principal amount of 5.25% convertible unsecured subordinated debentures due September 30, 2020 (the "Debentures"). In connection with the closing of the Over-Allotment Option today, the REIT issued an additional $5,250,000 aggregate principal amount of the Debentures for a total issuance of $40,250,000 aggregate principal amount of Debentures.

The net proceeds to the REIT for the Over-Allotment Option, after deducting the underwriters' fee of $196,875 but before deducting the expenses of the Over-Allotment Option, were $5,053,125. The REIT intends to use the net proceeds to repay indebtedness outstanding under its existing credit facility and for general trust purposes, thus replacing shorter-term debt with longer-term debt without materially increasing its aggregate indebtedness.

The underwriting syndicate for the Offering and Over-Allotment Option was led by RBC Capital Markets and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., GMP Securities L.P., TD Securities Inc., Canaccord Genuity Corp. and Dundee Securities Ltd. (the "Underwriters").

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 78 income-producing properties, with a focus on medical office buildings and healthcare real estate, comprising approximately 4.7 million square feet of gross leasable area located in British Columbia, Alberta, Manitoba, Ontario, Québec, Nova Scotia and New Brunswick.

Forward-Looking Information The press release may contain 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

SOURCE NorthWest Healthcare Properties Real Estate Investment Trust

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SOURCE: NorthWest Healthcare Properties Real Estate Investment Trust

Peter Riggin, CEO, Ernie Spraggs, CFO, or Mike Brady, Senior VP, General  Counsel and
Secretary, (416) 366-2000, NorthWest Healthcare Properties  REIT, orwww.nwhp.ca.