HealthLease Properties Real Estate Investment Trust Announces Completion of Three Pre-Leased Development Properties

TORONTO, Feb. 19, 2013 /CNW/ - HealthLease Properties Real Estate Investment Trust (TSX: HLP.UN) ("HealthLease" or "the REIT") today announced the completion of its three pre-leased development properties. Two properties have begun generating rental income from their respective tenants, and third one will commence operations in March 2013. The total projected annual lease amount for the three properties is approximately $4.1 million.

"We are very pleased to have completed the construction of these pre-leased facilities, and that they are now generating income for HealthLease," said Zeke Turner, Chairman and CEO.  "These provide certainty to our revenues, as we continue to explore opportunities to expand our property portfolio."

The Sprenger Healthcare of Mishawaka, a 100-bed facility in Mishawaka, Indiana, was completed in December 2012.  It is a combined skilled nursing and assisted living facility, with a lease expiration date of December 2022 and an annual lease escalator of 2.5%.

Wellbrooke of Wabash, a 100-bed facility in Wabash, Indiana, was completed in January 2013.  It is also a combined skilled nursing and assisted living facility, with the lease expiring in January 2023 and an annual lease escalator of 2.5%.

The Bridge Care Suites in Springfield, Illinois, a 75-bed skilled nursing facility, was completed in February 2013 and tenant rent payments commence on March 1, 2013.  The lease will expire in January 2028 and has an annual escalator of 3.0%.

About HealthLease Properties Real Estate Investment Trust

HealthLease Properties Real Estate Investment Trust (TSX: HLP.UN) owns a portfolio of seniors housing and care facilities located in the United States and Canada.  The facilities are leased to experienced tenant operators who have significant operational experience in the U.S. and Canada. The leases are structured as long-term and triple-net, features that provide stability and dependability to the REIT's cash flow and distributions.  The REIT's best-in-class portfolio of properties meets the needs of modern seniors by emphasizing features such as hotel-like design, private rooms and baths, and hospitality-inspired amenities.  For more information, visit www.hlpreit.com.

Forward-Looking Information
This news release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties, including those set forth in the REIT's final prospectus dated June 8, 2012 under the section "Risk Factors", a copy of which can be obtained at www.sedar.com. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.

SOURCE: HealthLease Properties Real Estate Investment Trust

For further information:

Adlai Chester
Chief Financial Officer
HealthLease Properties REIT
(317) 420-0205 ext. 106

Salvador Diaz
Investor Relations
TMX Equicom
(416) 815-0700 ext. 242

Profil de l'entreprise

HealthLease Properties Real Estate Investment Trust

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.