NorthWest International Healthcare Properties REIT announces 37.5% increase in distribution effective January 2014
TORONTO, Jan. 15, 2014 /CNW/ - NorthWest International Healthcare Properties REIT (the "REIT") announced today that it has declared a distribution of $0.018333 per trust unit (TSX-V: MOB.UN) for the month of January 2014. The January 2014 distribution represents an annual distribution of $0.22 per trust unit which equates to a 37.5% increase from the December 2013 distribution and is supported by the previously announced closing of the REIT's $205 million (R$ 447 million) sale leaseback of a portfolio of three leading Brazilian hospitals.
The distribution will be paid on February17, 2014 to unitholders of record as at January 31, 2014.
Eligible unitholders that elect to participate in the REIT's distribution reinvestment plan (the "DRIP") will have their cash distributions used to purchase units of the REIT and will also receive a "bonus distribution" of units equal in value to 3% of each distribution. Unitholders wishing to participate should contact their investment advisors to enroll in the DRIP.
Effective today, 21,431 trust units will be issued pursuant to the DRIP, none of which will be issued to trustees or officers of the REIT.
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. The REIT's objectives are to: (i) provide its unitholders with stable and growing cash distributions from investments focused on international healthcare properties, on a tax efficient basis; (ii) enhance the value of the REIT's assets and maximize long-term unit value; and (iii) expand the asset base of the REIT.
This news release contains "forward-looking statements" within the meaning of applicable securities laws. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the ability of the REIT to pay the distribution on the date specified. The statements in this news release are made as of the date of this release. Although the REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. A discussion of the risk factors applicable to the REIT is contained under the heading "Risk Factors" in the REIT's annual information form dated March 11, 2013 and audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2012, a copy of which may be obtained on the SEDAR website at www.sedar.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) has approved or disapproved the contents of this press release.
SOURCE NorthWest International Healthcare Properties REIT