TORONTO, April 16, 2012 /CNW/ - NorthWest International Healthcare Properties ("NWI") is pleased to announce the acquisition of the real estate assets of Hospital Infantil Sabará located in the Paulista district of Sao Paulo, Brazil. Hospital Infantil Sabará is widely regarded as Brazil's largest and most prestigious pediatric hospital and the acquisition represents a rare opportunity to acquire a landmark property in the important Sao Paulo market with a strong operating partner.
With a total rentable area of 9,747 square meters, the 21 storey A-Class property has been recently purpose-built to accommodate the hospital, which commenced its 15 year lease term in Oct-2009. The property was acquired for Reais $82 million representing a going-in cap rate of 10.5% with annual inflation adjustments for the balance of the lease term.
The acquisition represents NWI's first acquisition in Brazil and represents a significant step on its broader international healthcare real estate investment plans.
About NorthWest International Healthcare Properties
NWI is a subsidiary of NorthWest Value Partners Inc. ("NorthWest"), a private real estate investment firm based in Toronto, Canada. Since 1992, NorthWest has established an exceptional track record of successfully acquiring, developing, operating and building value in real estate across Canada and internationally. NorthWest has a significant focus in healthcare real estate including founding NorthWest Healthcare Properties REIT which is focused on the Canadian market and NorthWest International Healthcare Properties which is focused on international markets, including Australia/New Zealand, Brazil and Germany. Currently, NorthWest has investments in C$2.5 billion of healthcare real estate assets and developments and is focused on accretively growing its portfolio in each of these markets.
For further information:
Paul Dalla Lana
NorthWest Value Partners Inc.
1 (416) 366-8300