NorthWest Healthcare Properties REIT announces successful completion of $70 million offering of convertible debentures

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

TSX: NWH.UN

TORONTO, Dec. 15, 2016 /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 $70 million aggregate principal amount of 5.25% convertible unsecured subordinated debentures ("Debentures"), on a bought deal basis, to a syndicate of underwriters (the "Underwriters") co-led by BMO Capital Markets and RBC Capital Markets.

The REIT has granted the Underwriters the option to purchase up to $10.5 million aggregate principal amount of additional Debentures at a price of $1,000 per Debenture to cover over-allotments, exercisable in whole or in part anytime up to 30 days following closing of the Offering.

The REIT intends to use the net proceeds of the Offering, together with existing resources, (i) to repay approximately $70 million (R$177 million) of Brazilian term loans maturing on December 21, 2016, (ii) to fund the acquisition of a $19.1 million (€13.5 million) medical office building located in Hamburg, Germany (the "German MOB Acquisition"), (iii) to fund the potential future repayment of higher cost convertible debentures with 2017 par calls, and (iv) for general trust purposes. For more information on the German MOB Acquisition, please refer to the REIT's news release issued on December 6, 2016.

The Debentures 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 Acquisition and the future repayment of higher cost convertible debentures with 2017 par calls.  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 Acquisition being satisfied or waived, exchange rates remaining static and the REIT having sufficient resources on hand to fund the potential future repayment of higher cost convertible debentures with 2017 par calls. 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 December 8, 2016 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

For further information: Paul Dalla Lana, CEO, NorthWest Healthcare Properties REIT, (416) 366-8300 x1001


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