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TSX-V: MOB.UN
TORONTO, Oct. 17, 2014 /CNW/ - NorthWest
International Healthcare Properties Real Estate Investment Trust
(TSXV: MOB.UN) (the "REIT") is pleased to announce the addition of
Mr. Vince Cozzi – a seasoned
healthcare real estate investment professional – in the capacity of
Co-President and Chief Investment Officer of the REIT and to the
senior management team of its external asset manager.
Prior to joining the REIT and its asset manager, Mr. Cozzi was a
Senior Vice President of Ventas, Inc., the largest U.S. healthcare
REIT, and Executive Vice President and Chief Investment Officer of
its Lillibridge Healthcare Services subsidiary. Mr. Cozzi joined
Ventas, Inc., in 2005, where he played a key role in more than
$15BN of transactions, including the
acquisition of healthcare properties, structuring of joint ventures
with operating partners, and corporate mergers and acquisitions.
Over his 9 years at Ventas, Inc. Mr. Cozzi played a lead role in
the growth of its medical office building portfolio through the
acquisition and integration of Lillibridge, Nationwide Health
Properties and Cogdell Spencer which
culminated in growing the portfolio from 9 properties to more than
325 properties comprising 20 million square feet across the United
States. Before joining Ventas, Mr. Cozzi was Vice President –
Finance and Treasurer of Trizec Properties, one of North America's largest owners of premier
office buildings, where he held positions in finance, corporate
strategy and asset management from 1998 to 2005. Mr Cozzi
received a B.A. in Economics from the University of Wisconsin and an M.B.A. in Finance
and Business Policy from the University of
Chicago Booth School of Business and is active in the Urban
Land Institute (Healthcare and Life Sciences Council), the National
Investment Center for Seniors Housing, and BOMA.
In connection with the hiring of Mr. Cozzi, Paul Dalla Lana, CEO of the REIT commented:
"Mr. Cozzi brings a wealth of experience in healthcare real
estate and will lead the REIT's international investment
initiatives as well as oversee its strategic investments in
Canada and Australia/New Zealand. We are excited to
have him join our global team of more than 40 healthcare real
estate professionals and through the augmentation of its executive
team, the REIT is increasingly well positioned to execute on its
very significant growth opportunities."
The REIT also confirmed today that it continues to work through
the internalization of its external management arrangements with
NorthWest Value Partners Inc. and the acquisition of all of the
rights and obligations relating to the management of Vital
Healthcare Property Trust (collectively the "Internalization
Transaction"). The REIT exepects to complete the
Internalization Transaction on or befoire December 31, 2014, subject to certain conditions
including, but not limited to the entering into of a definitive
binding implementation agreement and the receipt of all necessary
approvals.
About NorthWest International Healthcare Properties Real
Estate Investment Trust
The REIT 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 international healthcare properties, 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.
Reader Advisory
This news release contains "forward-looking statements"
within the meaning of applicable securities laws. 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, including the ability of the
REIT to pay the distribution on the date specified. 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 annual information
form dated April 23, 2014, audited
consolidated financial statements and management's discussion and
analysis for the year ended December 31,
2013, and the REIT's short form prospectus dated
September 16, 2014, copies of which
each may be obtained on the SEDAR website at
www.sedar.com.
SOURCE NorthWest International Healthcare Properties REIT