NorthWest Healthcare Properties REIT Announces $200 Million Equity Financing - Seite 2

The REIT continues to execute on its capital recycling initiatives with plans to complete its United Kingdom joint venture (“UK JV”) in H2 2021. The UK portfolio is a highly defensive portfolio of scale, leased to leading UK hospital operators under long-term inflation indexed leases with the potential for approximately $85 million of value creation opportunity. The completion of the UK JV, the expected Revaluation Gains and conversion of in-the-money convertible debentures (NWH.DB.E and NWH.DB.F) into trust units would further de-lever the REIT’s balance sheet thus improving and approaching investment grade credit metrics as the REIT would exceed its target proportionate leverage of less than 50% and net debt to EBITDA of less than 8.0x. The strong balance sheet and additional acquisition capacity from the UK JV net proceeds, along with third party commitments of $8.5 billion and undeployed capital of $4 billion, would provide the REIT with financial flexibility and capacity to capitalize on a robust global acquisition pipeline.

The Public Offering is subject to normal regulatory approvals, including approval of the Toronto Stock Exchange, and is expected to close on or about February 26, 2021. The Private Placement is expected to close shortly after closing of the Public Offering.

The Units issued under the Public Offering will be offered pursuant to the REIT's base shelf prospectus dated November 27, 2020. The terms of the Offering will be described in a prospectus supplement to be filed with securities regulators in all 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 190 income-producing properties and over 15.4 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 230 professionals across ten offices in seven countries to serve as a long term real estate partner to leading healthcare operators.