Northwest Healthcare Properties Real Estate Investment Trust Reports Second Quarter 2024 Results

Toronto, Ontario–(Newsfile Corp. – August 13, 2024) – Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the “REIT” or “Northwest”), a leading owner and operator of healthcare real estate infrastructure in North America, Brazil, Europe and Australasia, announces results for the three months (“Q2 2024”) and six months (“H1 2024”) ended June 30, 2024.

“Significant progress has been made thus far in 2024,” said Craig Mitchell, CEO of Northwest. “We have addressed more than half of our 2025 debt and executed on strategic initiatives as part of our formal strategic review process that we completed in August with the sale of our U.K. portfolio. Our portfolio performance continues to reflect strong demand for healthcare real estate, particularly in SPNOI growth, driven by strong occupancy and rent collection. Looking ahead, we expect our recent sales to have a positive impact on earnings. Despite challenges such as higher interest rates and construction costs, which are affecting many sectors, our high-quality portfolio is focused on the cure segment – ​​a defensive asset class – and offers attractive risk-adjusted returns driven by an aging population. We remain committed to continuing to simplify our operations, further reduce debt and strengthen our balance sheet. We believe these efforts position us well to deliver continued growth and value for our unitholders.”