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Last updated on April 18, 2014 at 1:21 EDT

NorthWest International Healthcare Properties REIT completes acquisition of German medical office building

April 1, 2013

TSX-V: MOB.UN

TORONTO, April 1, 2013 /CNW/ – NorthWest International Healthcare
Properties Real Estate Investment Trust (TSXV: MOB.UN) (the “REIT”)
announced today that it has completed the previously announced
acquisition of Medicum Muensterfeld – a newly constructed medical
office complex located in Fulda, Germany, approximately 100km northeast
of Frankfurt, Germany. The acquisition is expected to be immediately
accretive.

At approximately 120,000 square feet, Medicum Muensterfeld is 99%
occupied with a weighted average lease expiry of 7.1 years. The
property has a diversified tenant base focused on healthcare related
users and orthapedic services which benefit from the building’s close
proximity to the Klinikum Fulda – one of Fulda’s leading hospitals.

The purchase price of approximately C$20M is subject to customary
closing adjustments and represents an approximate 7.0% in-place cap
rate. The REIT’s investment was funded from existing resources and new
mortgage financing from Deutsche Genossenschafts-Hypothekenbank AG for
C$12M with a five year term, a fixed interest rate of 2.37% per annum
and a 40 year amortization period.

About NorthWest International Healthcare Properties Real Estate
Investment Trust

The REIT is an unincorporated, open-ended real estate investment trust
established under the laws of the Province of Ontario.  Including its
investment in Vital Healthcare Property Trust (NZX: VHP) and this
acquisition, the REIT now holds interests in a portfolio of 32
income-producing properties, with a focus on internationally-located
medical office buildings and healthcare real estate, comprising
approximately 2.0 million square feet of gross leasable area located in
Australia / New Zealand, Brazil and Germany.

Forward Looking Information

Certain statements contained in this news release may contain
projections and “forward looking statements” within the meaning of that
phrase under Canadian securities laws. When used in this new release,
the words “may”, “would”, “should”, “could”, “will”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “expect” and similar expressions
may be used to identify forward looking statements. Those statements
reflect the REIT’s current views with respect to future events or
conditions, including the future financial performance of Vital Trust .
By their nature, forward looking statements reflect management’s
current views, beliefs and assumptions and are subject to certain risks
and uncertainties, known and unknown, including, without limitation,
risks disclosed in the short-form prospectus of the REIT dated March
18, 2013 and in the REIT’s other public filings. Many factors could
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements that may
be expressed or implied by these forward looking statements. The REIT
does not intend to nor assume any obligation to update these
forward-looking statements whether as a result of new information,
plans, events or otherwise, unless required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

SOURCE NorthWest International Healthcare Properties REIT


Source: PR Newswire