Ms. Stephanie Karamarkovic reports

NORTHWEST HEALTHCARE PROPERTIES REIT EXTENDS OVER HALF OF REMAINING 2025 DEBT MATURITIES AND PROGRESSES WITH DISPOSITION STRATEGY

Northwest Healthcare Properties Real Estate Investment Trust today discussed 2025 debt repayments, new financing and maturity extensions, and progress with its disposition strategy to address remaining 2025 debt maturities and further deleveraging.

• Extends 52 per cent of remaining 2025 debt maturities;
• Over $200-million of assets globally on a consolidated basis listed for sale or under conditional sales contracts.

"Executing to plan, we've made significant progress on strengthening the balance sheet," said Stephanie Karamarkovic, chief financial officer of Northwest. "Through facility refinancing and extensions, we have reduced remaining 2025 debt maturities to approximately $340-million. In addition, we have advanced our disposition strategy with a further $200-million listed for sale or under conditional contract, which are expected to be accretive to adjusted funds from operations (AFFO) per unit, and instrumental in decreasing debt and interest expense. These efforts help to position Northwest for greater long-term stability and create value for our unitholders."

Refinancing activity

• Secured $421-million of new or renewed financing across several facilities, extending maturities previously occurring in 2024 and 2025 by 2.1 years on a weighted average basis with a nominal impact to the REIT's weighted average interest rate.
• The REIT's 2025 debt maturities, which totalled $1.6-billion as at Dec. 31, 2023, have been reduced to approximately $340-million on a proportionate basis as of Sept. 30, 2024, represented by $215-million of mortgages and property level borrowings across multiple facilities in the REIT's portfolio. Additionally, $125-million Series G convertible debentures maturing on March 31, 2025, which are not available for prepayment, are a continued focus for the REIT. The REIT's objective is to repay the Series G convertible debentures on maturity through existing credit facility capacity and proceeds from further asset sales.

Disposition activity

Northwest continues to actively pursue disposition opportunities. The REIT has over $200-million on a consolidated basis (over $100-million on a proportionate basis) of assets globally listed for sale or under conditional contract, which management expects to complete before March 31, 2025. These transactions are expected to be accretive to AFFO per unit and net proceeds are to be directed toward repaying high-cost debt including the REIT's Series G convertible debentures. As part of the REIT's continuing strategy, it will continue to assess the portfolio and seek further opportunities to unlock value through the sale of non-core assets.

About Northwest Healthcare Properties Real Estate Investment Trust

Northwest provides investors with access to a portfolio of high-quality international health care real estate infrastructure comprised as at Aug. 13, 2024, of interests in a diversified portfolio of 186 income-producing properties and 16.1-million square feet of gross leasable area located throughout major markets in North America, Brazil, Europe and Australasia. The REIT's portfolio of medical office buildings, clinics and hospitals is characterized by long-term indexed leases and stable occupancies. Northwest leverages its global work force in eight countries to serve as a long-term real estate partner to leading health care operators.

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