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NorthWest Healthcare grosses C$86.3M in bought-deal offering

NorthWest Healthcare Properties REIT closed its public offering of an aggregate of 8,544,500 trust units, including full exercise of an overallotment option, for gross proceeds of about C$86.3 million.

The trust units sold for C$10.10 apiece and the overallotment option was comprised of 1,114,500 trust units.

The company plans to use the net proceeds to repay its higher-cost revolving debt, to fund the acquisition of two German medical office buildings and for general trust purposes.

The syndicate of underwriters was co-led by BMO Capital Markets and RBC Capital Markets.