NorthWest Healthcare Properties REIT Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : So first off, the investments in Australia Unity Fund, I think you sold almost $100 million in Q3. So how much is now left to be sold?

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Half left. And I think, Craig, you mentioned in your prepared remarks in the second half -- or sorry, in the first half of the next year, or should we expect something in Q4 as well?

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. And just to clarify, there is no debt associated with those investments as of now?

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. Got it. And then on the asset dispositions, I think earlier you mentioned you have something classified as assets held for sale. Do you have a sense of timing? I mean, should we again expect something like early next year? Or is it something more imminent?

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. And so how far along are you in the process? I mean are they like waiting to be closed, or you're still in negotiations for closing that $150 million plus?

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. Okay. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 08, 2023 / 3:00PM, NWH_u.TO - Q3 2023 NorthWest Healthcare Properties REIT Earnings Call

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Got it. Okay. And then obviously, you have done, I would say, a good job in the last few months in terms of addressing the near-term debt refinancing. I mean, as we stand today, do you have a handle of where FFO or AFFO is likely to shoot up next year? Or more in terms of what is your target payout ratio next year in the light of the new distribution?

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Got it. And that takes into account all the debt refi what you have addressed there, including the convertible debenture as well?

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Clear. That's correct. Okay.

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. Fantastic. And maybe 1 last question is on the sale value loss or the fair value adjustments you've done in Q3, which geography most of them are pertaining to?

Question: Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. So when you're saying most of them Americas, would that mean that most of them is in the U.S. or Canada or a spread over? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 08, 2023 / 3:00PM, NWH_u.TO - Q3 2023 NorthWest Healthcare Properties REIT Earnings Call

Question: Pammi Bir - RBC Capital Markets, Research Division - Analyst : Just given the sort of the cadence of the noncore asset sales, and the sales of the Australian Unity units, where do you see leverage and floating rate debt exposure by the end of this year or early 2024?

Question: Pammi Bir - RBC Capital Markets, Research Division - Analyst : Okay. Just on the dispositions that you have done to date, where is pricing coming in relative to the book value?

Question: Pammi Bir - RBC Capital Markets, Research Division - Analyst : Got it. And then just last 1 for me. On the Series G converts, has the support level increased at all from the 24%, I think, that you disclosed last month?