NorthWest International Healthcare Properties REIT Completes Offering of Trust Units
|Areas||Commercial Real Estate, Corporate Finance and Securities, Health Care Law, REITs and Income Securities, Tax|
Goodmans represented NorthWest International Healthcare Properties Real Estate Investment Trust (TSXV: MOB.UN) (the "REIT") in connection with the completion of an offering of 9 million trust units of the REIT at a price of $2.00 per unit for gross proceeds of $18,000,000 on December 18, 2013. The offering was conducted by a syndicate of underwriters co-led by GMP Securities L.P. and National Bank Financial Inc., and included Canaccord Genuity Corp., Dundee Securities Ltd., Scotiabank, Desjardins Securities Inc. and Manulife Securities Incorporated.
On January 14, 2014, the REIT issued an additional 852,070 trust units of the REIT for additional gross proceeds to the REIT of $1,704,140. The issuance was pursuant to the partial exercise of an over-allotment option granted to the underwriters which increased the total number of units issued by the REIT to 9,852,070 for total gross proceeds to the REIT of $19,704,140.