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Canadian REIT NorthWest Announces Over-allotment Buyout

By Mihaela Lica Butler | January 15, 2013

The NorthWest International Healthcare Properties Real Estate Investment Trust (TSXV: MOB.UN 2.24) has announced exercising their option to purchase over-allotted shares of their equity offering. The purchase at $2 per price of the 850,900 units remaining puts the purchase at $1.7 million.



The REIT and a syndicate of underwriters led by GMP Securities L.P. and National Bank Financial Inc. and including Scotia Capital Inc., Canaccord Genuity Corp., Desjardins Securities Inc. and Macquarie Capital Markets Canada Ltd. exercised their rights to purchase these shares. According to the limited news release, the over-allotment proceeds of this deal are to be leveraged to further the REIT's international healthcare real estate strategy and possibilities for future acquisitions.

The REIT is an unincorporated, open-ended real estate investment trust in Ontario which includes investments via Vital Healthcare Property Trust (NZX: VHP). It also has interests in a portfolio of some 32 properties comprised of 1.8 million square feet of income producing property in Australia, New Zealand, Brazil, and in Germany.

For more information on this news please visit the prescribed links, or contact:

Paul Dalla Lana
CEO, NorthWest International Healthcare Properties REIT
(416) 366-8300 ext. 1001

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Mihaela Lica Butler is senior partner at Pamil Visions PR. She is a widely cited authority on public relations issues, with an experience of over 25 years in online PR, marketing, and SEO.She covers startups, online marketing, social media, SEO, and other topics of interest for Realty Biz News.
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