Key Points – NorthWest Health Prop reported steady first-quarter operating results, with same-property NOI up 3% year over year and occupancy above 96%, while AFFO payout ratio improved to 87% from 92% a year ago. – The trust expects the sale of its European portfolio to…
nerate about $145 million in net proceeds, which management says will be used to reduce leverage and support future growth; available liquidity already exceeds $400 million. – Management highlighted a growing healthcare acquisition pipeline and said it could complete “a couple of hundred millions” of acquisitions this year, funded by recycling proceeds and existing liquidity, while also targeting about $35 million in annual run-rate G&A by the end of 2026. NorthWest Health Prop Real Est Inv Trust (TSE:NWH.UN), referred to on its earnings call as Vital Infrastructure Property Trust, reported first-quarter results that management said reflected steady operating performance, progress on cost reduction and continuing efforts to recycle capital into North American healthcare infrastructure opportunities
Chief Executive Officer Zach Vaughan said the trust delivered same-property net operating income growth of 3% year-over-year, or 4% excluding the impact of higher property expenses tied to outsourcing facility management work in the Canadian portfolio. Vaughan said the result was at the upper end of the trust’s target range. “We’ve continued to make progress as we simplify our business, lowering costs … and recycling capital to be redeployed back here,” Vaughan said. European asset sale expected to reduce leverage Management highlighted the previously announced sale of a 32-property portfolio in Europe as a key source of near-term balance sheet flexibility.
Vaughan said the Netherlands portion of the portfolio closed at the end of April, while the remaining German assets are expected to close in the second quarter. The trust’s share of net proceeds from the full transaction is expected to be about…