NWHUF - NorthWest Healthcare Properties REIT Announces Successful Completion of Previously Announced Bought Deal Equity Offering and Full Exercise Of Over-Allotment Option for Gross Proceeds of Approximately $143.8 Million

NorthWest Healthcare Properties REIT Announces Successful Completion of Previously Announced Bought Deal Equity Offering and Full Exercise Of Over-Allotment Option for Gross Proceeds of Approximately $143.8 Million

Canada NewsWire

TORONTO, Feb. 26, 2019

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TSX: NWH.UN

TORONTO, Feb. 26, 2019 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) ("NorthWest" or the "REIT") is pleased to announce today that it has completed its previously announced public offering (the "Offering") of 13,501,000 trust units ("Units") of the REIT at a price of $10.65 per Unit for total gross proceeds of approximately $143.8 million, which includes proceeds from the full exercise of an over-allotment option to purchase an additional 1,761,000 Units. The Offering was conducted on a bought deal basis through a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets.

The REIT intends to use the net proceeds of the Offering to repay debt, which currently bears an interest rate of 6.8% and partly satisfy certain funding milestones related to the previously announced $1.2 billion acquisition of an 11 property Australian hospital portfolio from Healthscope Limited and its affiliates (the "Property Transaction").

The Units were offered in each of the provinces and territories of Canada pursuant to the REIT's base shelf prospectus dated October 19, 2018. The terms of the Offering are described in a prospectus supplement filed with Canadian securities regulators. A copy of the prospectus supplement is available under the REIT's profile on the SEDAR website at www.sedar.com.

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 156 income-producing properties and over 11.8 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Europe, 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 nine offices in five countries to serve as a long term real estate partner to leading healthcare operators.

Forward Looking Information

This press release contains "forward-looking statements" within the meaning of applicable securities laws, including statements about the Offering and the proposed use of proceeds thereof. The forward-looking statements in this news release are based on certain assumptions, including without limitation that all conditions to completion of the Property Transaction will be satisfied or waived, and funding will be obtained as expected to complete the Property Transaction. These forward-looking 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 Property Transaction will not be completed on the terms proposed, or at all or that other developments may arise that result in the REIT having to further increase its leverage. 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 28, 2018, and the REIT's prospectus supplement dated February 18, 2019 and the REIT's other public filings, copies of which each may be obtained on the SEDAR website at www.sedar.com. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The REIT does not intend to nor assume any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. Accordingly, this news release does not constitute an offer for sale of securities in the United States.

SOURCE NorthWest International Healthcare Properties Real Estate Investment Trust

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