TSX:NWH.DB.G - Post by User
Post by
JosephM1on Jun 12, 2023 10:33am
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Post# 35491434
With the distribution level now safe
With the distribution level now safeit will only be time before the unit price appreciates.. They even elimated the Drip.
The REIT also announced today that it has suspended its DRIP until further notice. Commencing with the June 2023 distribution (payable on or about July 15, 2023), unitholders enrolled in the DRIP will receive distribution payments in cash On May 31, 2023 the REIT closed the sale of Bakersfield Hospital located in California, USA for $76 million (US$56 million) at a 6.5% capitalization rate. Bakersfield hospital is a high-quality property but was considered non-core owing to it being the only acute care hospital in the REIT’s US portfolio. This sale represents the first sale from the REIT’s previously disclosed $340 million non-core asset sale program that is expected to be substantially completed in Q3-2023.
Collectively, the sale of 70% of the REIT’s UK assets and the sale of Bakersfield Hospital will generate net equity for the REIT of approximately $300 million. Proceeds will be used to repay debt with a weighted average interest rate of 8.2% and result in proportionate leverage decreasing from 57.6% to 53.1%.