Business
Northwest Healthcare Properties REIT Provides Update on Recent Operational, Transactional and Corporate Initiatives
Northwest Healthcare Properties REIT Provides Update on Recent Operational, Transactional...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n \n \n \n Northwest Healthcare Properties REIT Provides Update on Recent Operational, Transactional and Corporate Initiatives\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 TORONTO\n \n ,\n \n Feb. 16, 2021\n \n /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (\"NorthWest\" or the \"REIT\") announces progress on recent operational, transactional and balance sheet initiatives, and provides timing of Q4 2020 results and conference call details.\n \n \n \n Operational Update\n \n \n \n The REIT's portfolio of healthcare infrastructure assets continues to perform well through the COVID-19 pandemic with all properties open and operational. For the three months ended\n \n December 31, 2020\n \n the REIT collected 98.3% of rent (including those subject to formal deferral arrangements), which is a 76 basis points improvement from the 97.6% collected in Q3 2020. The strong rent collection throughout the pandemic is illustrative of the defensive attributes of the REIT's portfolio, the essential nature of its tenant base and commitment from governments to ensure access to critical healthcare services. The REIT believes that a growing back log of non-essential treatments and surgeries in each of its global markets is expected to increase demand levels for acute healthcare services and support private hospital system volumes going forward.\n \n \n \n Transactional Activities\n \n \n \n As previously disclosed, during 2020 the REIT acquired a\n \n $620 million\n \n (£358 million) portfolio of ten high quality private hospitals in the UK leased to leading private hospital operators on a long-term, triple net, inflation indexed basis, at a weighted average acquisition capitalization rate of 6.5%. Since acquisition and during the COVID-19 pandemic, the REIT's UK portfolio has performed as expected with 100% rent collection underpinned by strong funding support from the National Heath Service. The REIT continues to see an approximate\n \n $85 million\n \n value creation opportunity as the UK portf...