TSX-V: MOB.UN
TORONTO, Nov. 5, 2013 /CNW/ - NorthWest International
Healthcare Properties REIT (the "REIT") announced today the
expansion and strengthening of its management team. Effective
today, Bernard Crotty has been
appointed President of the REIT. Mr. Crotty has served as an
independent trustee of the REIT since May
31, 2012. Mr. Crotty is an experienced executive, private
investor and lawyer. Mr. Crotty is currently a principal of Silver
and White Management Inc., a private investment firm. Mr. Crotty
has a distinguished professional career including serving as
Chairman and/or Chief Executive Officer of Certicom Corp. and
Comnetix Inc., both high-tech software companies, and has also held
senior legal positions with law firms in Los Angeles, Toronto and London,
England. The REIT shall be appointing and announcing at
minimum one new independent trustee to the board of trustees within
the next sixty days.
Also, effective today, the REIT announced the
appointment of Teresa Neto as Chief
Financial Officer of the REIT. Ms. Neto most recently held the role
of Chief Financial Officer of KEYreit from 2011 to 2013, a former
TSX-listed REIT that was recently acquired in a take-over bid.
Previous to KEYreit, Ms. Neto was the Chief Financial Officer of
Retrocom REIT, also at TSX-listed REIT. Prior to Retrocom,
Teresa spent nearly five years with the Real Property Association
of Canada ("REALpac") as VP,
Financial Reporting. Before REALpac, Teresa held increasingly
senior finance roles in the telecommunications, consumer packaged
goods and communications industries. Concurrent with this
appointment, Mr. Brian Wilson has
resigned as Interim Chief Financial Officer of the REIT and will
continue with the REIT as its Senior Vice President, Finance.
"I am very pleased to be expanding the breadth
and depth of the REIT's senior leadership team", said Paul Dalla Lana, Chief Executive Officer of the
REIT. "Bernard has been extensively involved as a Trustee in the
transformation of the REIT into an internationally diversified
healthcare real estate investment trust. Teresa brings forward a
strong real estate background and significant experience in
accounting, finance and governance. Both Bernard and Teresa will be
instrumental in executing the REIT's continued growth strategy
across the globe. I also want to thank Brian for his dedication and
contributions during the past year in leading the finance and
administration function during our transition from its prior
domestic focus to its current international focus."
The appointments of Mr. Crotty and Ms. Neto are
subject to TSX-V approval.
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 regulatory
approval of the senior management changes. 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 March 11, 2013 and audited consolidated financial
statements and management's discussion and analysis for the year
ended December 31, 2012, a copy of
which may be obtained on the SEDAR website at
www.sedar.com.
Neither the TSX Venture Exchange Inc. nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) has approved or disapproved the
contents of this press release.
SOURCE NorthWest International Healthcare Properties REIT