NorthWest Healthcare Properties Real Estate Investment Trust (NWH) and NorthWest International Healthcare Properties Real Estate Investment Trust (NWI) completed a plan of arrangement under the Business Corporations Act (Alberta) in which NWI and NWH combined. Pursuant to the terms of the transaction, NWH acquired all of the assets of NWI and NWI unitholders received 0.208 of a NWH trust unit for each NWI trust unit held on a tax-deferred basis. All NWI convertible debentures were assumed by NWH, with the conversion prices being adjusted in accordance with their terms. NWH now holds a portfolio of healthcare real estate infrastructure.
NWI was represented by Goodmans LLP with a team led by Stephen Pincus that included Jon Feldman, Gesta Abols, Brad Ross and David Wallace (corporate/M&A), Celia Rhea and Karen Vadasz (finance); Mitchell Sherman and Jarrett Freeman (tax) and Tom Friedland and Peter Kolla (litigation). NWI was represented on Alberta matters by Burnet, Duckworth & Palmer LLP, with a team of Jeff Sharpe, Shannon Gangl and Lindsay Cox. Dennis Peterson of Peterson & Company, LLP represented NWI’s independent committee. Donald Gilchrist and Jeremy Fraiberg of Osler, Hoskin & Harcourt LLP represented NWI’s financial advisors, National Bank Financial and BMO Capital Markets.
NWH and the NWH Independent Committee were represented by McCarthy Tétrault LLP with a team of Graham Gow, Ian Michael and Jennifer Organ (corporate/M&A), James Morand (tax), Oliver Borgers (regulatory) and Sean Smyth and Kelli McAllister (litigation). NWH was also represented in the later stages of the transaction by its Executive Vice President, General Counsel and Secretary, Mike Brady. NWH’s financial advisor, Canaccord Genuity, was advised by Torys LLP’s Cornell Wright and Sophie Courtois.