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NorthWest Healthcare Properties REIT Announces Acquisition of Netherlands Medical Office Buildings and $200 Million Equity Financing
NorthWest Healthcare Properties REIT Announces Acquisition of Netherlands Medical Office ...
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[{"type":"text","content":"\n \n \n \n NorthWest Healthcare Properties REIT Announces Acquisition of Netherlands Medical Office Buildings and $200 Million Equity Financing\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n ,\n \n June 10, 2021\n \n /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (\"NorthWest\" or the \"REIT\") announced today a public offering, on a \"bought deal\" basis, of 13,900,000 trust units (the \"Units\") at a price of\n \n $12\n \n .60 per Unit (the \"Offering Price\") representing gross proceeds of approximately\n \n $175,140\n \n ,000 (the \"Public Offering\"). The Public Offering is being made through a syndicate of underwriters co-led by RBC Capital Markets and Scotiabank.\n \n \n The REIT has also granted the underwriters the option to purchase up to an additional 2,085,000 Units to cover over-allotments, if any, exercisable in whole or in part anytime up to 30 days following closing of the Public Offering.\n \n \n Concurrently with the Public Offering, the REIT has also entered into an agreement to sell 1,985,000 trust units to NorthWest Value Partners Inc. (\"NWVP\"), NorthWest's largest unitholder, on a non-brokered private placement basis at the Offering Price for gross proceeds of approximately\n \n $25 million\n \n (the \"Private Placement\", and together with the Public Offering, the \"Offering\"). NWVP currently holds an approximate 13.8% interest in NorthWest and is wholly-owned by\n \n Paul Dalla Lana\n \n , CEO of the REIT. Upon closing of the Private Placement, which is expected to occur in\n \n July 2021\n \n , NWVP will hold an approximate 13.7% effective interest in the REIT through ownership of trust units and Class B LP units (or approximately 13.6% assuming the exercise in full of the over-allotment option).\n \n \n The REIT intends to use the net proceeds of the Offering to: (i) fund its equity require...