Toronto, Ontario--(Newsfile Corp. - December 20, 2024) - Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT" or "Northwest") announced today that the REIT's Audit Committee has completed a thorough evaluation process for the 2025 audit engagement and that the REIT's Board of Trustees has, based on a recommendation from the REIT's Audit Committee, selected Deloitte LLP as its independent auditor for fiscal 2025.
Deloitte LLP was selected based on its qualifications and independence. The REIT also expects to realize cost efficiencies as a result of the change, due in part to Deloitte's role as auditor of Vital Healthcare Property Trust ("Vital") (the REIT has a 28.4% interest in Vital, which is listed on the New Zealand Stock Exchange and is consolidated by the REIT for financial reporting purposes under IFRS). Northwest extends its gratitude to KPMG LLP for the expertise and insight provided to the REIT over the years.
KPMG LLP will continue as external auditor through the financial year ending December 31, 2024. Deloitte LLP will commence a transition process with KPMG LLP during the financial year ending December 31, 2024 in order to ensure an orderly transfer. KPMG LLP will resign as Northwest's external auditor, at the REIT's request, effective on the business day following the filing of Northwest's audited consolidated financial statements for the year ending December 31, 2024 and its auditor's report thereon, and Deloitte LLP will be appointed as Northwest's external auditor effective on the same date to fill the vacancy and hold office until the 2025 annual unitholder meeting. Northwest intends to propose to unitholders, at its 2025 annual unitholder meeting, that Deloitte LLP be appointed as its external auditor until the end of the next annual unitholder meeting.
About Northwest Healthcare Properties Real Estate Investment Trust
Northwest provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised as at November 14, 2024, of interests in a diversified portfolio of 185 income-producing properties and 16.1 million square feet of gross leasable area located throughout major markets in North America, Brazil, Europe and Australasia. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies. Northwest leverages its global workforce in eight countries to serve as a long-term real estate partner to leading healthcare operators. For additional information please visit: www.nwhreit.com.
Contacts
Craig Mitchell, CEO, Craig.Mitchell@nwhreit.com
Stephanie Karamarkovic, CFO, Stephanie.Karamarkovic@nwhreit.com
Alyssa Barry, Investor Relations, Alyssa.Barry@nwhreit.com, investors@nwhreit.com, (416) 366-2000, Ext. 2202
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234573
SOURCE: Northwest Healthcare Properties REIT
