Toronto (pcJ News Briefs) – NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) has engaged RBC Capital Markets and BMO Capital Markets as lead underwriters for a bought deal public offering of 7,982,000 trust units at $10.65 per unit for gross proceeds of approximately $85 million.
NorthWest has also granted the underwriters the option to purchase up to an additional 1,197,300 Units to cover over-allotments, if any, exercisable in whole or in part anytime up to 30 days following closing of the offering.
NorthWest intends to use the net proceeds to repay primarily revolving debt, with the intention of using this debt capacity to potentially fund future acquisitions and for general trust purposes.
The offering is expected to close on or about April 6, 2017.
NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 141 income-producing properties and 9.5 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Germany, Australia and New Zealand.
photo credit: NorthWest Healthcare Properties Real Estate Investment Trust