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January 11, 2012
NorthWest Healthcare Properties gets right of first offer to purchase Owen Sound, Ontario medical building
NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) announced last Friday it has been granted a right of first offer to purchase a medical office building in Owen Sound, Ontario, about 200 kilometres northwest of Toronto.
The Owen Sound Medical Building is a 73,500-square-foot structure at 1415 1st Avenue West. Tenants include a family health team, a Rexall drug store, physiotherapy clinic, diagnostic imaging service and retail tenants.
In exchange for the right of first offer, NorthWest Healthcare Properties REIT has loaned Owen Sound Medical Building Inc. $8 million at an interest rate of 7.5 per cent per annum.
In a separate announcement, NorthWest Healthcare Properties REIT says it has completed the $10.3 million purchase of a property near Aberdeen Regional Hospital in New Glasgow, Nova Scotia , about 60 kilometers east of Truro. That transaction, announced November 30, also includes a half-acre of land beside the building, which is at 808-810 East River Road and is leased to Lawtons Drugs.
The company owns about four million square feet of real estate on more than 58 properties in Canada.
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