Northwest Healthcare Properties REIT Increases Size of Public Offering to $60 Million for Aggregate Gross Proceeds of $70 Million, Including the Concurrent Private Placement
The REIT has also granted the underwriters the option to purchase up to an additional 982,500 Units
to cover over-allotments, if any, exercisable in whole or in part anytime up to 30 days following closing
of the offering.
Concurrently, NorthWest Value Partners Inc., NorthWest's largest unitholder, has agreed to purchase,
on a private placement basis, an aggregate of approximately $10 million in units at the offering price.
NorthWest Value Partners Inc. currently holds an approximate 34% interest in NorthWest and is whollyowned
by Paul Dalla Lana, CEO of the REIT. The closing of the public offering is conditional upon the
closing of the concurrent private placement.
NorthWest intends to use the net proceeds of the offering and concurrent private placement to fund the
equity component of the previously announced acquisition of a two building medical office complex in
Berlin, Germany, to repay existing indebtedness (including amounts outstanding on the REIT's revolving
credit facility) and for general trust purposes, thus providing NorthWest with additional financial flexibility
to pursue its various growth initiatives.
The offering is subject to normal regulatory approvals, including approval of the Toronto Stock
Exchange, and is expected to close on or about April 20, 2016.
The Units will be offered by way of a short form prospectus in all of the provinces and territories of
Canada and may also be offered by way of private placement in the United States.
The securities offered have not been 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 an applicable exemption from the
registration requirements. This press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
About NorthWest Healthcare Properties Real Estate Investment Trust
NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) is an unincorporated,
open-ended real estate investment trust established under the laws of the Province of Ontario. The
REIT provides investors with access to a portfolio of high quality international healthcare real estate
infrastructure comprised of interests in a diversified portfolio of 120 income-producing properties and
7.7 million square feet of gross leasable area located throughout major markets in Canada, Brazil,
Germany, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and
hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated
and aligned senior management team, the REIT leverages over 180 professionals across 9 offices in
5 countries to serve as a long term real estate partner to leading healthcare operators.
This news release contains "forward-looking statements" within the meaning of applicable securities
laws, including statements about the offering and proposed use of proceeds thereof. These forwardlooking
statements are subject to a number of risks and uncertainties that could cause actual results or
events to differ materially from current expectations, including the risk that the offering will not be
completed on the terms proposed, or at all. The statements in this news release are made as of the date
of this release. Although the REIT believes that the assumptions inherent in the forward-looking
statements are reasonable, forward-looking statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent
uncertainty therein. A discussion of the risk factors applicable to the REIT is contained under the
heading "Risk Factors" in the REIT's annual information form dated March 14, 2016 and management
information circular dated April 7, 2015, copies of which each may be obtained on the SEDAR website at
NorthWest Healthcare Properties Real Estate Investment Trust
Paul Dalla Lana
(416) 366-8300 x 1001