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NorthWest announces the acquisition of an 11 property, $1.2BN Australian hospital portfolio from Healthscope
NorthWest announces the acquisition of an 11 property, $1.2BN Australian hospital portfoli...
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[{"type":"text","content":"\n\n\n\nNorthWest announces the acquisition of an 11 property, $1.2BN Australian hospital portfolio from Healthscope\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen3{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 31, 2019\n\n\n\nAll dollar values herein are in Canadian dollars. Australian dollar values have been converted into Canadian dollars using an illustrative exchange rate of $1.00CAD = $1.05AUD.\n TORONTO, Jan. 31, 2019 /CNW/ - NWH Australia AssetCo Pty Ltd as trustee for NWH Australia Asset Trust (\"NorthWest Australia\"), a controlled entity of NorthWest Healthcare Properties Real Estate Investment Trust (\"NorthWest\" or the \"REIT\") (TSX:NWH.UN) announced today that it has entered into definitive agreements to acquire 11 freehold hospital property assets (the \"Portfolio\") from ASX-listed Healthscope Limited and its affiliates (\"Healthscope\") for approximately $1.2 billion as part of a sale and leaseback transaction (the \"Property Transaction\"). Through leveraging its capital relationships, NorthWest intends to structure the Property Transaction such that it will manage the Portfolio and ultimately maintain an approximately 25% - 30% ownership interest.\nThe Property Transaction follows NorthWest Australia's previously disclosed acquisition of a strategic interest in Healthscope and today's announcement by Healthscope that it has entered into a binding agreement with Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN) together with its institutional partners (collectively \"Brookfield\")  to acquire up to 100% of Healthscope sh...