In reporting its second-quarter results, NorthWest Healthcare Properties REIT said it bought a rehabilitation hospital and a medical office building in Europe for a total purchase price of C$63 million during the quarter and subsequent to quarter-end.
The Canadian healthcare real estate investment trust also agreed to purchase a second rehabilitation clinic and two medical office buildings in the Netherlands for C$54.4 million in a deal expected to be completed in the third quarter. It will fund both transactions using low-cost mortgages and its internal resources.
The REIT is also acquiring a small medical office property adjacent to its Queensway Professional Center property in the Greater Toronto Area for C$5.5 million. The deal will be financed with a new mortgage and proceeds from a recent Canadian mortgage refinancing activity.