NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES CHANGES TO ITS BOARD OF TRUSTEES

TORONTO, Jan. 30, 2024 /CNW/ - Northwest Healthcare Properties Real Estate Investment Trust (the "REIT" or "Northwest") (TSX: NWH.UN) today announced the retirement of Mr. Robert Baron from the Board of Trustees of the REIT (the "Board") effective January 29, 2024. Following Mr. Baron's retirement, the Board has appointed Mr. Robert "Bobby" Julien and Mr. Graham Garner to the Board, to fill the two vacancies on the Board. Mr. Garner will also serve as a member of the REIT's Strategic Review, Audit, and Compensation, Governance and Nominating Committees.

Mr. Dale Klein, Non-Executive Chair of the REIT, stated: "We welcome the addition of Mr. Julien and Mr. Garner to serve as Trustees as we continue to explore pathways to unlocking the significant value we believe is embedded in the REIT's portfolio.

Mr. Baron has been a valuable member of the Board and we have appreciated his experience, thoughtful insights, and impactful guidance as a Trustee. On behalf of the Board, I would like to thank Robert for his service and commitment to Northwest and wish him all the best in the future."

Mr. Julien stated: "As a principal of one of Northwest's largest unitholders, I am pleased to join Northwest's Board of Trustees. I am looking forward to working collaboratively alongside my fellow Trustees and utilizing my experience building successful real estate companies to help unlock value in Northwest's high-quality healthcare real estate platform."

Mr. Garner stated: "Northwest has an impressive, diversified healthcare portfolio with significant value creation opportunities in front of it. I look forward to supporting the REIT in executing on strategies to create value today and developing the longer-term vision for Northwest."

Mr. Julien is the CEO of the Kolter Group LLC ("Kolter") and is responsible for the firm's overall strategy as well as for support of the portfolio company leaders in the development of their sector-specific strategies.  He has directed the firm's growth and has been involved with all facets of the acquisition, design, financing, development, sales & marketing, and disposition of Kolter led transactions to date. Mr. Julien is also the manager of Kolter Capital NWH LLC ("Kolter Capital"), an affiliate of Kolter, which owns approximately 9.6% of the REIT's issued and outstanding units.

Mr. Garner is an accomplished senior executive with over twenty-five years of experience in real estate, oil and gas, and consumer goods.  His expertise spans a variety of areas including international business, mergers & acquisitions, corporate restructuring and equity & debt financings.  Since 2020, he has been providing advisory services to family offices and private foundations through his firm, Garner Advisory Services.  Prior to this, Mr. Garner was the Chief Financial Officer of the Strategic Group, a privately owned real estate owner and asset manager based in Calgary, Alberta.  He has held senior leadership positions with several private and public companies and practiced law for six years at a national law firm. Mr. Garner holds a Bachelor of Commerce with honours from Queen's University, a Bachelor of Civil Law and a Bachelor of Laws from McGill University and a Master of Business Administration from INSEAD.

Garner Advisory Services has been advising Kolter on its investment in the REIT.

The Board changes help ensure that it has the appropriate skills, experience and diversity in viewpoints to, among other things, oversee the REIT's ongoing strategic review.

About Kolter

Kolter is a diversified real estate investment and development company. Kolter's business interests include (i) land investment and lot development, (ii) development, construction, and sale of master-planned single family home communities, (iii) development of luxury condominium communities, (iv) development of multifamily rental communities, and (v) the development, acquisition, ownership and management of hospitality properties. To-date, Kolter has led $24 billion of expected transactions (both in-development and realized) of residential, commercial and hospitality-focused real-estate throughout the Southeastern United States and elsewhere in North America.

About Northwest Healthcare Properties Real Estate Investment Trust

Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (Northwest) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised as at September 30, 2023, of interests in a diversified portfolio of 229 income-producing properties and 18.2 million square feet of gross leasable area located throughout major markets in Canada, the United States, Brazil, Europe, Australia, and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 300 employees in ten offices in eight countries to serve as a long-term real estate partner to leading healthcare operators.

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by such terms such as "may," "might," "will," "could," "should," "would," "occur," "expect," "plan," "anticipate," "believe," "intend," "estimate," "predict," "potential," "continue," "likely," "schedule," or the negative thereof or other similar expressions concerning matters that are not historical facts. The forward-looking information in this news release includes statements regarding unlocking unitholder value, future growth and Northwest's long term vision.

The REIT has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, financial performance, business strategy and financial needs. These assumptions include, but are not limited to, those relating to the REIT being able to achieve its operating results and cash flows, interest rates remaining stable or decreasing, the REIT's properties continuing to perform, and the completion of various transactions.

Although the forward-looking statements contained in this news release are based upon assumptions that management of the REIT believe are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the REIT's control, including, that no transaction or other changes will result from the REIT's strategic review process and other risks identified in materials filed under the REIT's profile at www.sedar.com from time to time. The forward-looking statements in this news release relate only to events or information as of the date hereof. Except as required by applicable Canadian securities laws, the REIT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

SOURCE NorthWest Healthcare Properties Real Estate Investment Trust

About Kolter, please contact: Graham Garner, [email protected], (403)-614-2473; For further information, please contact: Craig Mitchell, CEO, [email protected]; Andrew Greig, Investor Relations, [email protected], [email protected], [phone] Ext. 2202