NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) ('NorthWest' or the 'REIT') is pleased to announce today that it has completed its previously announced public offering (the 'Public Offering') of 15,985,000 trust units ('Units') of the REIT at a price of $12.60 per Unit for total gross proceeds of $201,411,000, which includes proceeds from the full exercise of an over-allotment option to purchase up to an additional 2,085,000 Units.

The Public Offering was conducted on a bought deal basis through a syndicate of underwriters (the 'Underwriters') co-led by RBC Capital Markets and Scotiabank. Together with the previously announced $25 million private placement to NorthWest Value Partners Inc. ('NWVP'), which is expected to close in July 2021, (the 'Private Placement' and together with the Public Offering, the 'Offering'), the total gross proceeds of the Offering are expected to be approximately $226.4 million. Upon closing of the Private Placement, NWVP will hold an approximate 13.6% effective interest in the REIT through ownership of Units and Class B LP units. The REIT intends to use the net proceeds of the Offering to: (i) fund its equity requirement for the purchase of a campus of four medical office buildings in the Netherlands (the 'Netherlands MOBs') and (ii) provide financial flexibility in respect of its previously announced proposed transaction (the 'Proposed AUHPT Transaction') to acquire Australian Unity Healthcare Property Trust ('AUHPT'). The remaining proceeds, if any, will be used to fund future acquisitions, to repay amounts outstanding on its credit facilities and for general trust purposes. The Units were offered in each of the provinces and territories of Canada pursuant to the REIT's base shelf prospectus dated November 27, 2020. The terms of the Offering are described in a prospectus supplement filed with Canadian securities regulators. A copy of the prospectus supplement is available under the REIT's profile on the SEDAR website at www.sedar.com.

About NorthWest Healthcare Properties Real Estate Investment Trust

NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) is an unincorporated, openended 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 of interests in a diversified portfolio of 186 income-producing properties and over 15.5 million square feet of 180 DUNDAS STREET WEST, SUITE 1100 TORONTO, ONTARIO, M5G 1Z8 T: 416 366 2000 F: 416 366 2433 - 2 - gross leasable area located throughout major markets in Canada, 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 230 professionals across ten offices in seven countries to serve as a long term real estate partner to leading healthcare operators.

Forward Looking Information

This press release contains 'forward-looking statements' within the meaning of applicable securities laws, including statements about the Public Offering, the Private Placement and the proposed use of proceeds thereof, the expected closing of the Private Placement, NWVP's expected ownership levels, and the repayment of debt. The forward-looking statements in this news release are based on certain assumptions, including without limitation that all conditions to completion of the Private Placement will be satisfied or waived and that the REIT will be able to complete the Proposed AUHPT Transaction (which is not currently supported by AUHPT) on the terms previously proposed and disclosed. 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 risk that the Private Placement, the acquisition of the Netherlands MOBs and the Proposed AUHPT Transaction will not be completed on the terms proposed or at all. 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 forwardlooking 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 29, 2021, and the REIT's prospectus supplement dated June 14, 2021 and the REIT's other public filings, copies of which each may be obtained on the SEDAR website at www.sedar.com. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The REIT does not intend to, nor assume, any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.

Contact:

Tel: (416) 366-8300

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