The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Mario Saric - Scotiabank Global Banking and Markets, Research Division - Analyst
: Sorry, I joined the call a little bit late, so I apologize if I'm repeating anything, but I wanted to focus a bit more on the potential U.S. entry that you
talked about last quarter. As you get closer to that entry into the market, presumably, you are refining your strategy. Can you just maybe quickly
remind us of the asset profile being targeted, where those assets are trading today in terms of cap rates, and then whether you have more conviction
that the entry will be through a JV format as opposed to 100% in subsequent syndication, like you've done in your other regions?
Question: Mario Saric - Scotiabank Global Banking and Markets, Research Division - Analyst
: And any color in terms of how potential acquisition cap rates may compare to some recent transactions you've done in the geographies?
Question: Mario Saric - Scotiabank Global Banking and Markets, Research Division - Analyst
: Got it. That's good color. And then maybe just shifting focus, I think, Paul, to your comment on potential $1 to $2 of NAV per unit upside on cap
rate compression and then value creation, presumably within the U.K. healthcare fund, yields are coming up, or treasury yields are coming up, but
overall demand for the (inaudible) class is quite strong. So how do you -- where is the $1 to $2 coming from? What type of cap rate compression
potential do you see in the portfolio?
Question: Mario Saric - Scotiabank Global Banking and Markets, Research Division - Analyst
: Got it. And what would be some of the major remaining milestones with respect to launching that that one?
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
MAY 14, 2021 / 2:00PM, NWH_u.TO - Q1 2021 NorthWest Healthcare Properties REIT Earnings Call
Question: Mario Saric - Scotiabank Global Banking and Markets, Research Division - Analyst
: Got it. And then maybe just last question on the evolution of the asset management franchise. Any incremental progress or thoughts on diversifying
the LP investor base over time? And are you spending more time talking to LP investors relative to history? And just maybe some thoughts on the
evolution of the LP investor base over the next 3, 4, 5 years.
Question: Mario Saric - Scotiabank Global Banking and Markets, Research Division - Analyst
: Got it. And just as a follow-on, when you look at that wall of LP capital, let's say, that's targeting healthcare, is it typically more of a one-on relationship,
where you have an LP investor with a specific sponsor, or are comingled funds something that you're seeing in the industry today?
|
