NorthWest Healthcare Properties REIT
TSX:NWH.UN
NorthWest Healthcare Properties REIT
NorthWest Healthcare Properties Real Estate Investment Trust engages in the provision of access to a portfolio of international healthcare real estate infrastructure to investors. The company is headquartered in Toronto, Ontario. The company went IPO on 2010-03-23. The firm operates a portfolio of healthcare real estate comprised of interests in approximately 192 properties and 16.2 million square feet of gross leasable area located throughout the markets in Canada, Brazil, Europe, Australia and New Zealand. The company owns and manages office buildings, clinics, and hospitals from coast to coast, including Calgary, Edmonton, Toronto, Montreal, Quebec City and Halifax. The firm's properties include Glenmore Professional Centre, Polimedica Centre, Mehrower Allee, Palm Beach Currumbin Clinic, Hospital IFOR, Abbotsford Private Hospital, Belmont Private Hospital, Ekera Medical Centre, One Medical Place and Frankston Specialist Centre.
Strong Operations: NorthWest delivered another solid quarter with occupancy over 96% and a 13.5-year average lease term.
Income Growth: Same-property NOI rose 2.8% year-over-year, with every region contributing positively.
Improved Financials: AFFO per unit increased 19% to CAD 0.10, and the payout ratio dropped to 88% from 105% a year ago.
Leverage Reduction: Significant progress on deleveraging, with proportionate leverage down to 56% and consolidated leverage at 48.5%.
Healthscope Update: Healthscope, a key tenant, remains operational through receivership, and NorthWest sees limited long-term risk.
Capital Recycling: Over CAD 208 million generated through asset sales year-to-date, with ongoing interest from potential buyers.
DRIP Suspension: The distribution reinvestment plan will be suspended from September 2025 to optimize capital structure.
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