GT Canada Medical Properties REIT completes acquisition of a portfolio of three properties in Lindsay, St. Thomas and Hamilton, Ontario

TORONTO, Jan. 9, 2012 /CNW/ - GT Canada Medical Properties Real Estate Investment Trust (TSX-V: MOB.UN) (the "REIT") announced today that it has completed the previously announced acquisition of a portfolio of three medical office buildings located in Lindsay, St. Thomas and Hamilton, Ontario (the "Portfolio").

The Portfolio was acquired for approximately $10.6 million, which represents a weighted average cap rate of 8.2% applied to the year-one net operating incomes. Approximately $7.8 million of the purchase price will be comprised of a combination of assumed mortgage debt on the Portfolio and coterminous vendor take-back financing with a combined weighted average interest rate of 4.09%.  The balance of the purchase price was funded with existing resources.

The Portfolio is occupied by a strong mix of medical tenants including family health teams, pharmacies, labs and x-ray services and is 98% leased.

The closing of this transaction increases the REIT's portfolio to eleven medical office buildings.  In the last 12 months, the REIT has acquired 10 buildings at an average cap rate of 8.2%.

"We have acquired ten medical office buildings in twelve months", stated Andrew Shapack, the REIT's CEO.  "This pace illustrates our ability to grow in a disciplined and accretive manner while executing our business plan to create a high occupancy, physician intensive portfolio comprised exclusively of medical office buildings."

GT Canada Medical Properties REIT

As Canada's only publicly traded issuer focused exclusively on medical office buildings, GT Canada Medical Properties Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT's objectives are to: (i) provide its unitholders with stable and growing cash distributions from investments focused on medical office buildings, on a tax efficient basis; (ii) enhance the value of the REIT's assets and maximize long-term unit value; and (iii) expand the asset base of the REIT.

Reader Advisory

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including those relating to the acquisition and the opportunities for expansion. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations.. The statements in this news release are made as of the date of this release. Although the REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. A discussion of the risk factors applicable to the REIT is contained under the heading "Risk Factors" in the REIT's prospectus dated December 17, 2010, a copy of which may be obtained on the SEDAR website at

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) has approved or disapproved the contents of this press release.

SOURCE GT Canada Medical Properties Real Estate Investment Trust

For further information:

Andrew I. Shapack
Chief Executive Officer
GT Canada Medical Properties REIT
(416) 572-2170

Profil de l'entreprise

GT Canada Medical Properties Real Estate Investment Trust

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