NorthWest International Healthcare REIT is being merged under s. 132.2 into NorthWest Healthcare REIT

NorthWest International Healthcare REIT, which holds its international portfolio through a subsidiary Ontario LP with an exchangeable unit structure is being merged under s. 132.2 into NorthWest Healthcare REIT.  Although there principally are Ontario entities involved, Alberta is an easier jurisdiction for obtaining a non-corporate plan of arrangement than perhaps Ontario.  In order to qualify as an Alberta plan of arrangement, some minor transactions involving an Alberta asset manager were inserted.

Newer-style exchangeable units are to be created: an affiliated group holding a 65% economic interest in NWI will exchange (under s. 97(2)) their exchangeable units in the subsidiary LP of NWI for units of that LP which are redeemable for NWH units.

NWI and NWH are seeking CRA approval to change the fiscal year ends of various subsidiaries so that their income earned up to the effective date will be allocated to the respective NWI and NWH unitholders.

Neal Armstrong.  Summary of NorthWest International Healthcare and NorthWest Healthcare REIT Circular under Mergers & Acquisitions – REIT/Income Fund/LP Acquisitions – Section 132.2 Mergers – REIT Mergers.