TORONTO – NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) says it will acquire three office buildings in Winnipeg for about $21 million.
NorthWest says its expects to close the deal on the properties on Hargrave Street in the third quarter.
The buildings at 490-494, 496 and 500 Hargrave are 84 per cent leased to the Winnipeg Regional Health Authority on a long-term basis.
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The fully occupied portfolio includes some 70,200 square feet in one recently developed office buildings and two others that have recently be upgraded.
The purchase price, subject to adjustments, will include a mortgage of $15.8 million, with the equity portion funded from existing resources.
In a separate transaction, the REIT said it has completed the previously announced acquisition of a three-building portfolio on Portage Avenue in Winnipeg for about $13 million.
NorthWest Healthcare owns 77 properties in British Columbia, Alberta, Manitoba, Ontario, Quebec, Nova Scotia and New Brunswick.
— Staff / The Canadian Press
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