TORONTO, May 13, 2015 /CNW/ - NorthWest International
Healthcare Properties Real Estate Investment Trust (TSXV:MOB.UN)
("NWI") and NorthWest Healthcare Properties Real Estate
Investment Trust (TSX: NWH.UN) ("NWH") announced today that
the Alberta Court of Queen's Bench
has issued a final order approving the plan of arrangement undder
the Business Corporations Act (Alberta) pursuant to which NWI will combine
with NWH to create a leading global diversified healthcare real
estate investment trust with over $2
billion of assets (the "Transaction").
NWI and NWH expect to close the Transaction in May 2015, subject to the satisfaction or waiver
of the conditions precedent described in the joint management
information circular of NWI and NWH dated April 7, 2015.
About NorthWest International Healthcare Properties Real
Estate Investment Trust
NWI is an unincorporated, open-ended real estate investment
trust established under the laws of the Province of Ontario. Including its investment in NWH and
Vital Healthcare Property Trust, NWI holds interests in a portfolio
of 122 income-producing properties, representing an internationally
diversified portfolio of medical office buildings and healthcare
real estate, comprising approximately 6.6 million square feet of
gross leasable area located in Australia / New
Zealand, Brazil,
Canada and Germany.
About NorthWest Healthcare Properties Real Estate Investment
Trust
NWH is an unincorporated, open-ended real estate investment
trust established under the laws of the Province of Ontario. NWH holds a portfolio of 74
income-producing properties, with a focus on medical office
buildings and healthcare real estate, comprising approximately 4.6
million square feet of gross leasable area located in British Columbia, Alberta, Manitoba, Ontario, Québec, Nova Scotia and New Brunswick. For more
information on NWH, visit www.nwhp.ca.
Disclaimer
Certain statements contained in this news release constitute
forward-looking information within the meaning of applicable
securities laws. In some cases, forward-looking information can be
identified by such terms such as "may", "might", "will", "could",
"should", "would", "occur", "expect", "plan", "anticipate",
"believe", "intend", "estimate", "predict", "potential",
"continue", "likely", "schedule", or the negative thereof or other
similar expressions concerning matters that are not historical
facts. Some of the specific forward-looking statements in this news
release include, but are not limited to, statements with respect to
the expected completion of the Transaction and the conditions and
approvals required with respect thereto.
NWH and NWI have based these forward-looking statements on
factors and assumptions about future events and financial trends
that it believes may affect its financial condition, financial
performance, business strategy and financial needs, including, that
the arrangement agreement that sets forth the terms and conditions
of the Transaction (and is available under each of NWH and NWI's
provide on SEDAR at www.sedar.com) will be not be amended; and all
conditions precedent to completing the Transaction will be met.
Although the forward-looking statements contained in this news
release are based upon assumptions that management of NWH and NWI
believe are reasonable based on information currently available to
management, there can be no assurance that actual results will be
consistent with these forward-looking statements. Forward-looking
statements necessarily involve known and unknown risks and
uncertainties, many of which are beyond NWH's and NWI's control,
including, among other things, the risks identified each of NWH's
and NWI's materials filed under their respective profiles at
www.sedar.com from time to time and the risk that the conditions to
the Transaction will not be satisfied. The forward-looking
statements made in this news release relate only to events or
information as of the date hereof. Except as required by applicable
Canadian law, each of NWH and NWI undertakes no obligation to
update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise, after
the date on which the statements are made or to reflect the
occurrence of unanticipated events.
Neither the Toronto Stock Exchange nor the TSX Venture Exchange
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE NorthWest Healthcare Properties REIT