HealthLease Properties Real Estate Investment Trust Announces Strategic Hires by its External Manager

TORONTO, April 23, 2013 /CNW/ - HealthLease Properties Real Estate Investment Trust (HLP.UN) ("HealthLease" or "the REIT") today announced that its external manager, Mainstreet Property Group, LLC ("Mainstreet"), notified it of several strategic hires, including Carole Cowper as Vice President-Acquisitions, Alan Vaughan as Vice President-Acquisitions, and Scott White as Executive Vice President-Finance, each of whom will provide services on behalf of the REIT. Ms. Cowper and Mr. Vaughan will be focused on identifying and securing real estate acquisition opportunities for the REIT across Canada, whereas Mr. White will be responsible for driving the fundraising and capital markets needs of Mainstreet, including related to its external development activities for the REIT.

On Ms. Cowper and Mr. Vaughn, Zeke Turner, Chairman and CEO of Mainstreet and HealthLease, says "We are very pleased to welcome Carole and Alan to our team.  They both come from credible organizations and bring a wealth of experience and talent to our team.  We are committed to helping the REIT grow in Canada, as well as in the U.S., and these hires add significant value to us as an organization. Their particular backgrounds in Canadian real estate are important as we continue to execute the REIT's growth strategy through acquisitions.  We look forward to their contributions and insights."

Ms. Cowper has over 25 years of experience in real estate and has gained a comprehensive understanding of the industry through a variety of different roles in both the United Kingdom and Canada. Prior to her appointment to HealthLease, Ms. Cowper worked at HealthTrust Canada (acquired by the Altus Group in 2008), at which she held a number of senior leadership roles from 2007 to 2012.  She was also previously involved in a property and asset management role for a property portfolio worth over C$1.2 billion. Ms. Cowper obtained her MRICS and FRICS designations from the Royal Institute of Chartered Surveyors and her AACI designations from the Appraisal Institute of Canada.

Mr. Vaughan has more than 35 years of experience in the business sector with a focus on business development, financings, and real estate acquisitions. From 2002 to 2012, Mr. Vaughan was Vice President, Business Development with Northern Property Real Estate Investment Trust ("NPR") (TSX: NPR.UN). During his tenure with NPR, Mr. Vaughan acquired more than $750 million of income-producing properties and was instrumental to NPR's growth. Prior to joining NPR, Mr. Vaughan founded Arctic Financial Limited, a subsidiary of Pacific & Western Trust Corporation.

On Mr. White, Mr. Turner remarks, "Our company is at an important inflection point in its growth strategy and we are delighted to be able to bring aboard someone with Scott's experience and talent. Scott and I worked together earlier in our careers and I know he brings the capital markets and fundraising knowledge that is vital to the growth of both Mainstreet's and the REIT's business."

Mr. White most recently served as a Senior Vice President in the Private Funds Group of Brookfield Asset Management.  Prior to that, he held senior roles in Citigroup's Investment Bank covering both health care companies and alternative asset managers at various points in his career.  Mr. White also worked for PricewaterhouseCoopers.  Mr. White holds a BA and MBA from Rutgers University as well as a JD from University of Pennsylvania Law School.

"I am excited to be joining Mainstreet at this critical juncture for the business. The team has built a compelling business model and is well positioned as a leader and innovator in a rapidly growing sector of our economy," said Mr. White.

"We have a strong company that is poised to become an industry leader.  Expanding our relationships with capital providers is vitally important to our continued success. Scott will be instrumental in helping us realize both Mainstreet's and the REIT's full potential," said Adlai Chester, CFO.

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.

About Mainstreet Property Group

Indiana-based Mainstreet Property Group, the largest skilled nursing developer in the United States, is known for acquiring and developing desirable, concierge-based health care properties with a hotel-like atmosphere for a variety of short-term and long-term needs. The company's innovative and industry-leading Next Generation™ design meets the demands of the Baby Boomer, including communities with multiple social destinations, restaurant-style dining, spacious private rooms and baths, and therapy/wellness. Mainstreet was named to the Inc. 500/5000 list of fastest-growing companies in 2010, 2011, and 2012. For additional information, visit www.mainstreetcap.net.

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 AIF dated March 6, 2013 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
[phone] ext. 106

Salvador Diaz
Investor Relations
TMX Equicom
[phone] ext. 242