TORONTO, Dec. 20, 2012 /CNW/ - Mohawk Medical Growth Partners
("Mohawk"), a private real estate investment firm, announced today it
has acquired the premier medical office building in Stratford, ON
through its first vehicle, Mohawk Stratford Opportunity Partners (I)
This building, called "The Jenny Trout Centre", is home to the Stratford
Family Health Team and has served the local community for over twenty
years. Other tenants in the 100% occupied building include general
practitioners, pediatricians, OB/GYNs, pharmacy, lab and x-ray. PAR-Med
Property Services Inc., a leader in third party management of medical
office buildings, will provide property management.
Equity financing was comprised of both a brokered and non-brokered
private placement. Raymond James Ltd. acted as agent for the brokered
private placement. Approximately 50% of the financing was by way of
non-brokered private placement.
Timbercreek Senior Mortgage Investment Corporation provided first
mortgage financing with a 65% loan-to-value ratio.
Mohawk also announced today that it has another medical office building
acquisition under contract and anticipates closing its second
investment vehicle in Q2-2013.
About Mohawk Medical Growth Partners
Mohawk Medical Growth Partners is an opportunistic, Toronto-based,
private real estate investment firm focused on creating value through
development, re-positioning, re-tenanting and property turnaround of
Canadian medical office buildings. Its general partners, Sean Nakamoto
and Andrew Shapack, whose combined track record includes over 60
medical office building acquisitions, draw on their experience to
manage this aggressive investment platform expressly designed to
capture the current opportunity in the Canadian medical office field.
SOURCE: Mohawk Medical Growth Partners Corp.
For further information:
For more information about Mohawk, visit www.mohawkmedical.ca