GT Canada Medical Properties REIT (TSX-V: MOB.UN) Completes Oversubscribed Rights Offering

- Total of 3,880,212 Units to be issued -

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TORONTO, April 25, 2012 /CNW/ - GT Canada Medical Properties Real Estate Investment Trust (the "REIT") is pleased to announce that it has completed its previously disclosed rights offering (the "Rights Offering").  Pursuant to the Rights Offering, the REIT will issue a total of 3,880,212 units for net proceeds of $4,322,244.

The Rights Offering was oversubscribed.  As a result, investors will receive all units duly subscribed for under the basic subscription privilege, however, some investors may not receive the full number of units they requested through the exercise of their Additional Subscription Privilege (as defined in the REIT's Rights Offering circular dated March 9, 2012).  Computershare Investors Services Inc., as Subscription Agent, will return any excess funds submitted in those cases where the number of additional units subscribed for exceeded the number of additional units available.  Details of the Rights Offering and the Additional Subscription Privilege can be found in the REIT's Rights Offering circular dated March 9, 2012.

The REIT plans to use the proceeds of the Rights Offering to reduce indebtedness owing under its revolving line of credit (the "Acquisition Line") and, thereafter, together with the available room on its Acquisition Line, to fund acquisition opportunities (as they become available) that meet the REIT's investment criteria. Proceeds will also be used for general working capital purposes.

Offer Price Confirmed

The REIT also confirms that, as a result of the issuance of all 3,880,212 units available under the Rights Offering, NorthWest Value Partners Inc. ("NorthWest") will adjust the price at which it is offering to acquire all of the REIT's outstanding units from $2.05 per unit to $1.87 per unit (the "Offer").  A complete description of the Offer, including instructions on how to accept the Offer, are provided in NorthWest's take-over bid circular (the "Take-Over Bid Circular") dated April 20, 2012.  The Take-Over Bid Circular is exepcted to be mailed to the REIT's unitholders during the week of April 30, 2012 and is filed on SEDAR at www.sedar.com.

GT Canada Medical Properties REIT

As Canada's only publicly traded issuer focused exclusively on medical office buildings, GT Canada Medical Properties Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT's objectives are to: (i) provide its unitholders with stable and growing cash distributions from investments focused on medical office buildings, on a tax efficient basis; (ii) enhance the value of the REIT's assets and maximize long-term unit value; and (iii) expand the asset base of the REIT.

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including those relating to the REIT's objectives, future growth of the REIT, the use of proceeds of the Rights Offering and regulatory approvals. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations.. The statements in this news release are made as of the date of this release. Although the REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. A discussion of the risk factors applicable to the REIT is contained under the heading "Risk Factors" in the REIT's Rights Offering circular dated March 9, 2012, a copy of which may be obtained on the SEDAR website at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Andrew I. Shapack, Chief Executive Officer [phone]