TORONTO, Jan. 19, 2017 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) ("NorthWest" or the "REIT") today announced that in light of significant growth in the scope and nature of its global healthcare real estate portfolio, the REIT has repositioned its leadership team through the following management appointments and executive changes:
- Mr. Bernard Crotty to the position of President. Mr. Crotty was formerly President of NorthWest International Healthcare Properties REIT, a predecessor company, and is a current trustee of the REIT. He is a seasoned corporate executive with more than 30 years of experience as a senior executive, corporate director and international lawyer. He will lead the REIT's activities in Australia and New Zealand through its investments in Generation Healthcare REIT and Vital Healthcare Property Trust. Recognizing these new management responsibilities it is anticipated that Mr. Crotty will step down from the REIT's board prior to the REIT's next annual general meeting.
- Mr. Peter Riggin is promoted to the newly created position of Chief Operating Officer. Mr. Riggin was formerly President, Canada Region for the REIT and has held various senior leadership positions with the REIT since 2004. He will lead the REIT's medical office building businesses with a focus on Canada and Germany.
- Mr. Shailen Chande is promoted to the position of Chief Financial Officer. Mr. Chande has been Interim Chief Financial Officer since September 2016 and previously held various senior positions with the REIT and predecessor companies since 2009, including playing a leadership role in its 2010 IPO and its international expansion. Prior to joining NorthWest, Mr. Chande worked as an investment banker in London, UK and qualified as a Chartered Professional Accountant (CPA·CA).
- Mr. Vincent Cozzi, formerly President and Chief Investment Officer, has resigned from the REIT for personal reasons.
With more than ten years average experience at NorthWest in varying leadership capacities and a combination of unique individual skillsets and experiences, Bernie, Peter and Shailen bring an exciting combination of continuity and fresh capabilities to the REIT. Each of them is well known to the NorthWest team and is capable of immediately making a contribution in their new roles. Each will join the REIT's Executive Leadership Team and be jointly responsible, in conjunction with the exisiting regional management teams, for executing on an ambitious growth plan.
Paul Dalla Lana, Chief Executive Officer, said, "These changes reflect the completion of the REIT's post-merger integration process and its increasing international focus. I am happy to see Peter and Shailen increase their responsibility with the REIT and to welcome Bernie to the management team after being involved with the board for seven years."
Additional details on the REIT's recent management appointments are available on its website at http://www.nwhp.ca.
About NorthWest Healthcare Properties Real Estate Investment Trust
NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 136 income-producing properties and 9.2 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Germany, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 180 professionals across ten offices in five countries to serve as a long term real estate partner to leading healthcare operators.
SOURCE NorthWest Healthcare Properties Real Estate Investment Trust