NorthWest Healthcare Properties Real Estate Invest 10 Convert Sub Debentures 31 March 2025 T.NWH.DB.G

With the distribution level now safe

[JosephM1]

it 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%.

[pjn0987654321]

Having no DRIP suggests they will be acting on the NCIB. 

[JosephM1]

Agreed butnthe message is more about the safety of the distribution!  The NCIB is secondary to me !  The discount to NAV is too wide and was driven by the fear of cut in distributions!