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NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST PROVIDES UPDATE ON RECENT DEVELOPMENTS AT ITS SUBSIDIARY VITAL HEALTHCARE PROPERTY TRUST
NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST PROVIDES UPDATE ON RECENT DE...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n \n \n \n NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST PROVIDES UPDATE ON RECENT DEVELOPMENTS AT ITS SUBSIDIARY VITAL HEALTHCARE PROPERTY TRUST\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.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 28, 2022\n \n \n /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (\"NorthWest\" and the \"REIT\"),\n \n Canada's\n \n leading global diversified healthcare real estate investment trust, is pleased to provide an update on recently announced developments at NSX-listed Vital Healthcare Property Trust (NZX: VHP.UN) (\"Vital Trust\").  NorthWest manages Vital Trust and is its largest Unitholder with an approximate 27.5% interest.\n \n \n On\n \n April 26, 2022\n \n , Vital Trust announced the appointment of Ms.\n \n Angela Bull\n \n as an Independent Director and member of Vital's audit committee. Ms. Bull replaces\n \n Andrew Evans\n \n who, after 15 years in these roles, will retire. Commenting on the Vital board renewal, its independent chair,\n \n Graham Stuart\n \n , said:\n \n \n \n \"The Board appreciates Andrew's long and committed service to the Manager and Vital. During Andrew's tenure, Vital's assets have grown from\n \n ~$250M\n \n to\n \n ~$3BN\n \n , net tangible assets have grown from\n \n $1.30\n \n to\n \n $3.12\n \n per unit and Vital's total unitholder returns have averaged 11.2% per annum.\n \n \n \n \n We welcome Angela onto our Board and look forward to her applying her extensive skills and experience in property, law and governance to help continue to deliver superior returns for Vital's unitholders.\"\n \n \n \n Separately, on\n \n April 28, 2022\n \n , Vital Trust announced a NZ$200M (\n \n C$166M\n \n ) capital raise and strategic entry into\n \n New Zealand's\n \n South Island by way of NZ$225M (\n \n C$188M\n \n ) of acquisitions and developments. Commenting on Vital's acquisitions and developments, its fund manager,\n \n Aaron Hockly\n \n , said:\n \n \n \n \"The acquisitions ann...