Press Release

NorthWest Healthcare Properties Real Estate Investment Trust Provides Update on Australian Leasing, Acquisition, Development and Financing Initiatives at Generation Healthcare

TORONTO, Sept. 28, 2017 /CNW/ - NorthWest Healthcare Properties REIT (TSX: NWH.UN) ("NorthWest") is pleased to announce that its wholly owned Australian subsidiary Generation Healthcare ("Generation"), has substantially completed or entered into agreements to complete significant leasing, acquisition, development and financing initiatives as follows: 

The delivery of Casey Stage II along with Frankston Private Hospital, completed in April, further advances the organic growth that resides within the Generation portfolio. These projects combined with the Grey Street Centre and Albert Street Carpark at Epworth's Freemasons Hospital which is currently under development, and the new Epping Medical Centre lease-up and Private Hospital expansion are a testament to both the quality of Generation's relationships as well as its track record of value creation and serve to highlight the embedded value of the development pipeline that was acquired as part of NorthWest's acquisition of Generation.

Commenting on the activity, NorthWest's Chief Executive Officer, Paul Dalla Lana, said:

"I am very pleased to report the completion of existing and commencement of new value creating activities at Generation in Australia.  This potential was the basis for our historic and more recent investments in the business, and the results highlight the high quality, value-enhancing opportunities available to the REIT in Australia. In conjunction with an equally high-quality management team, portfolio, and expansion pipeline at its NZX-listed subsidiary Vital Healthcare Properties, NorthWest is optimistic about its potential to build on its leading industry position and relationships to deliver further accretive growth in the region."

Additionally, Generation's Chief Executive Officer, Mr. Miles Wentworth, said:

"Bringing Healthe Care to Epping to create a scaled, integrated health campus will result in mutually beneficial outcomes for patients, the broader community and Generation. We are pleased to support Healthe Care's continued growth to provide acute and sub-acute healthcare services in Victoria.

Casey Stage 2 is due for completion in the coming few weeks following the successful construction phase of the project. Co-located with the Casey Public Hospital and the Generation owned St John of God Specialist Centre delivers an integrated health campus in a significant growth corridor of Melbourne. 

The transaction with Epworth Healthcare will see Generation become the 100% freehold owner of Epworth Freemasons Private Hospital and undertake the $86M Grey Street Centre and Albert Street projects on a fully pre-committed basis by Epworth, on a 30 year initial lease term." 

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 144 income-producing properties and 9.7 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.

This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.

SOURCE NorthWest Healthcare Properties Real Estate Investment Trust