TORONTO, Sept. 27, 2013 /CNW/ - HealthLease Properties Real Estate Investment Trust (HLP.UN) ("HealthLease" or "the REIT") provides below answers to questions received since our last Q&A Update on September 4, 2013.
Question 1: Is there any chance the REIT will receive US Source Income other than Interest? (i.e. US dividend or US other income or ROC?)
Answer: The REIT anticipates it will only receive US source interest. The overall return of capital for the REIT is anticipated to be approximately 65%.
Question 2: With regards to the Wellbrooke of Avon property acquisition, is the price of $17,130,000 inclusive or exclusive of acquisition costs incurred?
Answer: The purchase of Avon was exclusive of all acquisition costs.
Question 3: Has construction been completed at the Franklin House in Youngsville, North Carolina and the Johnston House in Clayton, North Carolina?
Answer: Yes, construction has been completed at both locations. The Franklin House was licensed on July 26, 2013 and rent commenced then. The Johnston House was licensed on May 29, 2013 and rent commenced then.
Supplemental Financial Information
This news release is not in any way a substitute for reading HealthLease's financial statements, including notes to the financial statements, and Management's Discussion and Analysis, dated August 8, 2013. The REIT's 2013 Fiscal Second Quarter Financial Statements, and MD&A, have been filed on SEDAR. The Second Quarter Financial Statements and MD&A can also be viewed in the Investor Information section of the HealthLease's website at www.hlpreit.com.
About HealthLease Properties Real Estate Investment Trust
HealthLease Properties Real Estate Investment Trust (TSX: HLP.UN) owns one of the youngest and highest quality portfolios of seniors housing and care facilities with 12 properties located in two provinces of Canada and 32 properties located seven states of the United States for a total of 4,343 beds. 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 premier properties meets the growing demands 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.
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 Annual Information Form 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:
Executive Vice President - Finance
HealthLease Properties REIT
(416) 815-0700 ext. 258