NorthWest Healthcare Properties REIT Completes Offering of Trust Units and Convertible Debentures for $146 Million and Concurrent Private Placement

Goodmans LLP represented NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (NorthWest) in connection with its public offering whereby NorthWest sold an aggregate of 6,785,000 trust units of NorthWest at a price of $9.80 per unit and $74.75 million aggregate principal amount of 5.25% convertible debentures, including units and debentures issued pursuant to the exercise in full of the over-allotment options granted to the underwriters by NorthWest, on a bought deal basis, for aggregate gross proceeds of approximately $141.2 million. The offering was conducted through a syndicate of underwriters co-led by RBC Capital Markets, BMO Capital Markets and National Bank Financial and included CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp. Dundee Securities Ltd. GMP Securities L.P., Raymond James Ltd. and Manulife Securities Incorporated. 

NorthWest Value Partners Inc. (NWVP), NorthWest's largest unitholder, and certain members of management, also purchased, by way of private placement, an aggregate of approximately $5 million of units at the offering price. Following the offering and private placement, NWVP holds an approximate 29.4% interest in NorthWest. NWVP is wholly-owned by Paul Dalla Lana, CEO of the NorthWest.

The net proceeds from the offering and the private placement were used to fund a portion of its strategic investments in Australia and New Zealand and to fund a portion of the acquisition of two hospitals in Sao Paulo and Brasilia, Brazil occupied by Rede D'Or, an independent operator of hospitals in Brazil.

NorthWest is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. NorthWestfdT provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 138 income-producing properties and 9.0 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Germany, Australia and New Zealand.