NorthWest International Healthcare Properties REIT announces intention to
increase interest in Vital Trust to 25%
TORONTO, April 2, 2013 /CNW/ - NorthWest International Healthcare Properties
Real Estate Investment Trust (TSXV: MOB.UN) (the "REIT") announced today that
it has given notice to Vital Healthcare Management Limited of its intention to
seek to acquire up to 15,352,830 additional units of Vital Healthcare Property
Trust ("Vital Trust") (the "Potential Unit Acquisitions") in the open market
over the New Zealand Stock Exchange ("NZSX").
The REIT currently has exposure to an approximate 20% interest in Vital Trust.
Vital Trust is also managed by an affiliate of the REIT's external manager.
The Potential Unit Acquisitions are expected to occur within and over the
period of up to 12 months after April 24, 2013, will be in the range of
NZ$1.15 to NZ$1.38 per unit and are conditional upon there being sufficient
sellers of units within the price range offered by the REIT. If the Potential
Unit Acquisitions are completed in full, the REIT's exposure to Vital Trust
would increase to slightly less than 25%.
This press release is being issued in connection with a regulatory filing that
must be completed by the REIT under New Zealand law. Securityholders of the
REIT should be cautioned that the regulatory filing merely provides notice of
an intent to complete the Potential Unit Acquisitions, and there are no
assurances that the Potential Unit Acquisitions will be completed on the terms
set forth above or at all.
About NorthWest International Healthcare Properties Real Estate Investment
The REIT is an unincorporated, open-ended real estate investment trust
established under the laws of the Province of Ontario. Including its
investment in Vital Healthcare Property Trust (NZX: VHP), the REIT holds
interests in a portfolio of 32 income-producing properties, with a focus on
internationally-located medical office buildings and healthcare real estate,
comprising approximately 2.0 million square feet of gross leasable area
located in Australia / New Zealand, Brazil and Germany.
Forward Looking Information
Certain statements contained in this news release may contain projections and
"forward looking statements" within the meaning of that phrase under Canadian
securities laws. When used in this new release, the words "may", "would",
"should", "could", "will", "intend", "plan", "anticipate", "believe",
"estimate", "expect" and similar expressions may be used to identify forward
looking statements. Those statements reflect the REIT's current views with
respect to future events or conditions, including the Potential Unit
Acquisitions. By their nature, forward looking statements reflect
management's current views, beliefs and assumptions and are subject to certain
risks and uncertainties, known and unknown, including, without limitation,
risks disclosed in the annual information form of the REIT dated March 11,
2013, the short-form prospectus of the REIT dated March 18, 2013 and in the
REIT's other public filings. Many factors could cause actual results,
performance or achievements to be materially different from any future
results, performance or achievements that may be expressed or implied by these
forward looking statements. The REIT does not intend to nor assume any
obligation to update these forward-looking statements whether as a result of
new information, plans, events or otherwise, unless required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Paul Dalla Lana CEO, NorthWest International Healthcare Properties REIT (416)
366-8300 ext. 1001
SOURCE: NorthWest International Healthcare Properties REIT
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