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GROSS PROCEEDS OF PREVIOUSLY ANNOUNCED CONVERTIBLE DEBENTURE FINANCING INCREASED TO $155 MILLION

TORONTO, Aug. 31, 2022 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) ("NorthWest" or the "REIT") announced today the issuance of an additional $20.25 million aggregate principal amount of 6.25% convertible unsecured subordinated debentures of the REIT. The issuance was pursuant to the exercise in full of an over-allotment option (the "Over-Allotment Option") granted by the REIT to a syndicate of underwriters co-led by RBC Capital Markets and Scotiabank in connection with the REIT's recent offering of 6.25% convertible unsecured subordinated debentures, on a bought deal basis (the "Offering"), which closed on August 25, 2022. The exercise of the Over-Allotment Option increases the total gross proceeds of the Offering to $155.25 million. For more information on the Offering, please refer to the REIT's news release issued on August 25, 2022.

The REIT has used the net proceeds of the Offering, and intends to use the additional net proceeds from the exercise of the Over-Allotment Option, to repay short-term floating rate debt with a weighted average interest rate of approximately 7.5% and for general trust purposes.

NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. As at June 30, 2022, the REIT provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 232 income-producing properties and 18.5 million square feet of gross leasable area located throughout major markets in Canada, the United States, Brazil, Europe, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 250 professionals in nine offices in five countries to serve as a long term real estate partner to leading healthcare operators.

This press release contains "forward-looking statements" within the meaning of applicable securities laws, including statements about the expected use of proceeds of the Offering and the REIT's floating rate debt exposure. When used in this news 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. The forward-looking statements in this news release are based on certain and are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The statements in this news release are made as of the date of this release. The REIT does not intend to nor assumes any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law. 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 31, 2022, a copy of which may be obtained on the SEDAR website at www.sedar.com.  

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. Accordingly, this news release does not constitute an offer for sale of securities in the United States.

SOURCE NorthWest Healthcare Properties Real Estate Investment Trust

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