Press Release

NorthWest Healthcare Properties REIT announces successful completion of previously announced bought deal equity offering and full exercise of over-allotment option for gross proceeds of approximately $86.3 million

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TSX: NWH.UN

TORONTO, Jan. 31, 2017 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) ("NorthWest" or the "REIT") is pleased to announce the closing of its previously announced public offering (the "Offering") whereby NorthWest sold an aggregate of 8,544,500 trust units ("Units") of the REIT at a price of $10.10 per Unit, which includes 1,114,500 Units issued pursuant to the exercise in full of the over-allotment option granted to the underwriters of the Offering by NorthWest, on a bought deal basis, for aggregate gross proceeds of approximately $86.3 million. The Offering was conducted through a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets.

The REIT intends to use the net proceeds of the Offering to repay higher cost revolving debt, fund a portion of the previously announced acquisitions of two medical office buildings in the cities of Hamburg and Fulda, Germany (the "German MOB Acquisitions"), and for general trust purposes and/or potential future acquisitions. For more information on the German MOB Acquisitions, please refer to the REIT's news release issued on January 10, 2017.

The Units were offered in each of the provinces and territories of Canada pursuant to the REIT's base shelf prospectus dated September 12, 2016. The terms of the Offering are described in a prospectus supplement filed with Canadian securities regulators. A copy of the prospectus supplement is available under the REIT's profile on the SEDAR website at www.sedar.com.

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 nine offices in five countries to serve as a long term real estate partner to leading healthcare operators. 

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, including but not limited to the expected use of proceeds of the Offering, the completion of the German MOB Acquisitions and the future repayment of higher cost revolving debt. When used in this news 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. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The REIT's estimates, beliefs and assumptions, which may prove to be incorrect, include the various assumptions set forth herein, including, but not limited to, all conditions to closing of the German MOB Acquisitions being satisfied or waived, the REIT having sufficient resources on hand to fund the potential future repayment of higher cost revolving debt, and the REIT's future growth potential. Forward looking statements are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the REIT's annual information form dated March 10, 2016, management information circular dated April 14, 2016 and the REIT's prospectus supplement dated January 24, 2017 and the REIT's other public filings, copies of which each may be obtained on the SEDAR website at www.sedar.com. 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.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. Accordingly, this news release does not constitute an offer for sale of securities in the United States.

SOURCE NorthWest Healthcare Properties Real Estate Investment Trust