TORONTO, Jan. 16, 2014 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT") announced today that Mr. Ernie Spraggs has announced his pending retirement from his position as Chief Financial Officer ("CFO"). Mr. Spraggs' retirement, however, allows for a transition period that will extend to May, 2014. The REIT will begin a search for a replacement CFO immediately, and then transition the successful candidate into the position. Mr. Spraggs has served the REIT since its initial public offering ("IPO") in March, 2010.
The REIT also announced that Mr. Mike Brady, formerly Senior Vice President, has been promoted to the position of Executive Vice President. Mr. Brady will continue to also act as General Counsel and Secretary for the REIT.
Peter Riggin, Chief Executive Officer, said, "Ernie has made a significant contribution to the REIT, including influencing our strategic direction and establishing the REIT's reputation for having a very high standard of comprehensive financial reporting and disclosure. We all wish Ernie well with his transition into retirement."
Peter Riggin further stated, "Mike has been providing strategic direction as part of the REIT's executive leadership team since well before the IPO, and his new position better reflects his responsibilities within the REIT."
About NorthWest Healthcare Properties Real Estate Investment Trust
NorthWest Healthcare 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 holds a portfolio of 78 income-producing properties, with a focus on medical office buildings and healthcare real estate, comprising approximately 4.7 million square feet of gross leasable area located in British Columbia, Alberta, Manitoba, Ontario, Québec, Nova Scotia and New Brunswick.
This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.
SOURCE: NorthWest Healthcare Properties Real Estate Investment Trust
For further information:
Peter Riggin, Chief Executive Officer (416) 601-3220, NorthWest Healthcare Properties REIT, www.nwhp.ca