Business
NorthWest Healthcare Properties Real Estate Investment Trust Provides COVID-19 Related Business Update and Timing of First Quarter Results
NorthWest Healthcare Properties Real Estate Investment Trust Provides COVID-19 Related Bus...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n\n\n\nNorthWest Healthcare Properties Real Estate Investment Trust Provides COVID-19 Related Business Update and Timing of First Quarter Results\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\nCanada NewsWire\nTORONTO, April 20, 2020\n\n\n\nTORONTO, April 20, 2020 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (the \"REIT\") (TSX: NWH.UN), Canada's leading global diversified healthcare real estate investment trust, today provided an update on its response to the COVID-19 pandemic.         \nThe REIT remains focused on the health and safety of its tenants and employees and the global effort to mitigate the impact of COVID-19. NorthWest is well positioned with a strong balance sheet and a defensive portfolio that is 97.3% occupied by a diverse 1,900 tenant roster substantially underpinned by public healthcare care funding. Within our hospital portfolio, governments in Australia, Germany, the Netherlands and UK, have each announced programs to immediately expand capacity of their respective public hospital systems in response to the COVID-19 pandemic by entering into direct arrangements with private hospital operators. Within the REIT's medical office portfolio, the majority of which is located within Canada and Germany, the tenants are comprised primarily of doctors and related medical professionals that are integral to delivery of healthcare which is ultimately funded by governments through those public healthcare systems. While some near-term disruption may result from the COVID-19 pandemic, with more than 85% of our revenues now provided directly or indirectly by public healthcare funding, the defensiveness of the REIT's income profile remains intact. Moreover, as providers of an essential and inelastic service backed by government funding, healthcare is expected to be amongst the first sectors to return to full capacity following the return to more normal operating conditions.\nTenants representing approximately 93% of contracted net rent have met or are expected to meet their rental obligations dur...