TORONTO, Feb. 2, 2018 /CNW/ - NorthWest Value Partners Inc. ("NWVP"), a company wholly-owned by Paul Dalla Lana, announced today details regarding the previously disclosed philanthropic commitments it has made to the University of Toronto. In accordance with these commitments, NWVP will be donating approximately $15 million of trust units of NorthWest Healthcare Properties REIT (the "REIT") (TSX:NWH.UN) to the University of Toronto's Dalla Lana School of Public Health. The donation is expected to be completed in February 2018.
The contribution is part of NWVP's recently announced $20-million incremental gift to the Dalla Lana School of Public Health, and will be used to provide funding for new initiatives in health system improvements and policy innovation, as well as projects to create healthier communities and improve quality across the health system.
Following the donation, NWVP and its affiliates will remain the REIT's largest unitholder, holding approximately 7.2 million trust units and approximately 17.7 million class B units (each of which is redeemable for a trust unit of the REIT), which together represent an approximate 21% ownership interest in the REIT.
About Northwest Value Partners Inc.
NorthWest Value Partners is a private investment firm based in Toronto, Ontario, Canada. Since 1994, NorthWest and its affiliates have established an exceptional track record of successfully acquiring, developing, operating and building value in real estate across Canada.
SOURCE NorthWest Healthcare Properties Real Estate Investment Trust