NorthWest completes offer for GT Canada Medical Properties REIT

NorthWest Value Partners Inc. and GT Canada Medical Properties Real Estate Investment Trust (TSX-V:MOB.UN) announced that NorthWest's offer to acquire 100% of GT Canada's trust units for $1.87 per Unit has expired.

Since NorthWest's announcement on May 31, 2012 that NWVP Acquisition LP (a wholly owned subsidiary of NorthWest) was taking up Units and NorthWest was extending the Offer, 833,432 additional Units have been validly deposited under the Offer.  The deposited Units, together with the 17,647,614 Units already taken up and paid for by NWVP Acquisition LP, represent approximately 91% of the total outstanding Units (approximately 68% of the total outstanding Units on a fully-diluted basis).

As disclosed in the takeover bid circular mailed in connection with the Offer, and for the purposes of ensuring that GT Canada continues to meet the ongoing listing requirements of the TSX Venture Exchange, NorthWest intends to sell Units deposited under the Offer such that NorthWest and its affiliates will own not more than 18,307,055 Units, which represent 90% of the total outstanding Units (approximately 67% of the total outstanding Units on a fully-diluted basis).

Following the previously announced sale of GT Canada's existing medical office building portfolio to NorthWest Healthcare Properties REIT, NorthWest intends to reconfigure GT Canada to support its international healthcare initiatives, which include healthcare property investments in Australia/New Zealand, Brazil and Germany.


on June 18, 2012