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NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES THAT THE REIT AND THE PREVIOUSLY REFERENCED INSTITUTIONAL INVESTOR WILL NOT BE PROCEEDING WITH THE UK JOINT VENTURE
NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES THAT THE REIT AND THE PREV...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n \n \n \n NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES THAT THE REIT AND THE PREVIOUSLY REFERENCED INSTITUTIONAL INVESTOR WILL NOT BE PROCEEDING WITH THE UK JOINT VENTURE\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 21, 2023\n \n \n /CNW/ - Northwest Healthcare Properties Real Estate Investment Trust (the \"REIT\") (TSX: NWH.UN), announced today that the REIT and the previously referenced Institutional Investor will no longer be proceeding with the REIT's previously disclosed UK joint venture.\n \n \n The REIT continues to believe in the attractiveness of the UK healthcare real estate market fundamentals, its diversified high-quality hospital portfolio and strong track record of active asset management in the region. Having undertaken a robust capital formation process and met with numerous qualified investors who expressed interest in a UK joint venture, the REIT will continue to source an alternative partner to recapitalize its UK portfolio.  Accordingly, the REIT remains committed to its long-term capital light objective targeting a ~30% look through ownership level across its global portfolio.\n \n \n Operationally, the REIT's high quality and defensive portfolio remains in excellent shape with in-place occupancy of 97% underpinned by a weighted average lease expiry of 13.6 years and 82.6% of leases with annual rent indexation which contributed to 4.4% same-property NOI growth, on a year over year basis, in Q1 2023.\n \n \n \n About Northwest Healthcare Properties Real Estate Investment Trust\n \n \n \n Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (Northwest) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of\n \n Ontario\n \n . As at\n \n March 31, 2023\n \n , 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 233 income-producing properties and...