HealthLease Properties Real Estate Investment Trust Announces Closing of CDN$75 Million Equity Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, May 5, 2014 /CNW/ - HealthLease Properties Real Estate Investment Trust ("HealthLease" or "the REIT") (TSX: HLP.UN) today announced the closing of its previously announced public offering (the "Offering") of 7,500,000 trust units ("Units"), inclusive of 500,000 Units issued pursuant to the exercise of the over-allotment option, on a bought deal basis, at a price of Cdn$10.00 per Unit for total gross proceeds of Cdn$75,000,000. The Offering was conducted through a syndicate of underwriters led by BMO Nesbitt Burns Inc. and National Bank Financial Inc. and including Canaccord Genuity Corp., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Dundee Securities Ltd., Raymond James Ltd. and Euro Pacific Canada Inc.
The REIT intends to use the net proceeds from the Offering primarily for the funding of a portion of the purchase price in respect of the previously announced SP III Senior Care Portfolio, Kokomo Property and Continuum II Portfolio acquisitions (the "Acquisitions") and for repayment of debt in respect of the Clearvista Lake Campus and Arlington Place Health Campus acquisitions announced on March 17, 2014 and for general trust purposes.
HealthLease's Units are listed on the Toronto Stock Exchange under the symbol HLP.UN.
About HealthLease Properties Real Estate Investment Trust
HealthLease Properties Real Estate Investment Trust (TSX: HLP.UN) owns one of the youngest and highest quality portfolios of seniors housing and care facilities with 54 properties - 14 in two Canadian provinces and 40 in eight U.S. states, for a total of 5,383 beds (including the Acquisitions). The facilities are leased to experienced tenant operators who have significant operational experience. The leases are structured as long-term and triple-net: features that provide stability and dependability to the REIT's cash flow and distributions. The REIT's best-in-class portfolio meets the growing demands of modern seniors by emphasizing features such as hotel-like design, private rooms and baths and hospitality-inspired amenities.
Toronto Stock Exchange - HLP.UN
Forward-Looking Information:
This press release contains forward-looking statements with respect to HealthLease and its operations, strategy, financial performance and financial condition, as well as with respect to the Acquisitions. These statements generally can be identified by the use of forward-looking words such as "forecast", "may", "will", "would", "expect", "estimate", "anticipate", "intend", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of HealthLease and the properties it intends to acquire in connection with the Acquisitions discussed herein could differ materially from those expressed or implied by such statements. See the risk factors in the public filings of HealthLease. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, the failure to receive any required approvals or consents in connection with the Acquisitions or the failure to satisfy or waive any other condition to the closing of the Acquisitions, the failure of HealthLease to realize expected benefits from the Acquisitions, the performance of the properties acquired in connection with the Acquisitions generally, and changes in securities or other laws or regulations or the application thereof. The cautionary statements qualify all forward-looking statements attributable to HealthLease and persons acting on its behalf. The assumptions made in making forward-looking statements are referred to in the public filings of HealthLease. The assumptions made in making forward-looking statements in this press release also include the assumption that HealthLease will be in a position to satisfy the conditions in respect of the Acquisitions and complete those transactions. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release. Except as required by applicable law, HealthLease specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Additional information about these assumptions and risks and uncertainties is contained in HealthLease's filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at HealthLease's website at www.hlpreit.com.
SOURCE: HealthLease Properties Real Estate Investment Trust
Scott White
Executive Vice-President, Finance
HealthLease Properties REIT
[email protected]
(317) 420-0205
Renée Lam
Investor Relations, TMX Equicom
[email protected]
(416) 815-0700 ext. 258
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