NorthWest Healthcare Properties Real Estate Investment Trust Announces Acquisition of Quebec City Area Medical Office Building


TORONTO, Dec. 12, 2011 (Canada NewsWire via COMTEX) --NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT") announced today that it has entered into an agreement to acquire Centre Medicale de L'Hetriere, a 36,600 square foot medical office building in the Greater Quebec City Area. The purchase is expected to close in the first quarter of 2012, subject to customary closing conditions and is expected to be immediately accretive.

Located along the western boundary of Quebec City, Centre Medicale de L'Hetriere (3520 rue de l'Hetriere) is a newer development that benefits from being the only prominent medical office building in the immediate and fast growing market. Due to this dominant market presence, an appealing design and ample parking, the property is fully leased to a quality roster of tenants that is anchored by a large medical clinic, Clinique Medicale Cap-Rouge. Additional healthcare related uses include audiology, optometry, physiotherapy and dental, with a large Brunet pharmacy as a complementary retail use.

The purchase price will be approximately $7 million, subject to adjustments. The property is to be acquired free and clear, providing an opportunity to secure longer term mortgage financing in due course. The equity portion of the REIT's investment will be funded from existing resources.

The investment will be REIT's fifth acquisition in Greater Quebec City and its fifteenth asset in the Province of Quebec. The REIT believes that the acquisition of Centre Medicale de L'Hetriere will further solidify its market leadership in healthcare real estate in Quebec City, in the Province of Quebec and in Canada.

In a separate transaction, the REIT announced today that it has closed on the previously announced acquisition of 40 Sunpark Plaza SE, a modern medical office condominium property in Calgary.

About NorthWest Healthcare Properties Real Estate Investment Trust NorthWest Healthcare Properties Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT holds a portfolio of 57 income-producing properties, with a focus on medical office buildings and healthcare real estate, comprising approximately 4.0 million square feet of gross leasable area located in British Columbia, Alberta, Ontario, Québec, Nova Scotia and New Brunswick.

This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.

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SOURCE: NorthWest Healthcare Properties Real Estate Investment Trust

Mike Brady, Senior Vice President, NorthWest Healthcare Properties Real  Estate
Investment Trust, (416) 366-2000 ext. 243,