U.S. Markets open in 8 hrs 39 mins

NorthWest Healthcare Properties REIT First to Earn Digital Connectivity Distinction for Medical Office Building Portfolio

Ownership pursued the certification for approximately 1.5M sq. ft. of medical office building space.

TORONTO , May 24, 2019 /CNW/ - NorthWest Healthcare Properties REIT and WiredScore, which pioneers the international standard for cutting-edge internet connectivity in office buildings, today announced the former as the first landlord in North America to pursue the certification across a portfolio of medical office building properties.

The portfolio of properties includes 31 buildings totaling nearly 1.5 million sq. ft. of medical office building space. Each of the 31 buildings have been awarded the level of Wired Certified or higher.

Additionally, NorthWest Healthcare Properties REIT is now the first owner to certify its properties in a number of Canadian cities including Barrie , Collingwood , Fredericton , Guelph , Hamilton , London , Mississauga , Moncton , Oakville , and Owen Sound .

The designations were assigned upon review of the buildings' connectivity, technological infrastructure, and readiness to adopt to emerging technologies.

NorthWest Healthcare Properties REIT's properties are full-service medical office buildings with a mix of high-quality medical office and clinical space. The buildings have undergone significant capital investments to the parking, plumbing, lighting, HVAC, and other infrastructure to enhance their suitability for healthcare use.

The pursuit of Wired Certification comes in tandem with ownership's wider repositioning effort to develop a medical office real estate solution that is more progressive and technologically advanced than traditional medical office buildings.

NorthWest Healthcare Properties is proactively modernizing its medical office building portfolio in recognition of the way technology is revolutionizing the medical industry as a whole. As technology continues to advance in the medical industry, it has become clear medical and healthcare related tenants will not be able to reap the benefits of such innovations without sufficient connectivity in the buildings where they practice.

"We pride ourselves as being the premier provider of real estate solutions for the medical community in Canada , in large part because we proactively adapt to the needs of our tenants. Increasingly, that involves an awareness of and a commitment to outfitting our assets with the most up-to-date infrastructure to facilitate the connectivity needs of the medical professionals in our buildings," Dave Casimiro , Regional General Manager of NorthWest's Ontario and Atlantic Regions.

"Technology, specifically digital connectivity, is now a key component in retaining tenants of all types, and ensuring their productivity needs are met," said Arie Barendrecht , CEO and founder of WiredScore. "As the first landlord to pursue Wired Certification across a portfolio of medical office building properties in North America , the team at NorthWest Healthcare Properties is positioned as early adopters, raising the standard in healthcare real estate by proactively offering what matters most to tenants."

In pursuing Wired Certification, the properties underwent a comprehensive certification process that evaluated the aspects of digital infrastructure that enable a seamless connectivity experience in which office tenants are able to stay online and maintain productivity levels.

Upon review of the project's technical elements including: internet service providers available to tenants, infrastructure redundancy, connection access points, and readiness to meet future tenant needs, a Wired Certification level is assigned based on the official standards developed by WiredScore and its connectivity advisory board with representatives from Google Fiber, Rudin Management, Arup, WSP / Parsons Brinckerhoff, and Zayo Group.

NorthWest Healthcare Properties REIT (NWH-UN.TO) provides investors with access to a portfolio of high quality healthcare real estate comprised of interests in a diversified portfolio of 158 income-producing properties and 11.9 million square feet of gross leasable area located throughout major markets in Canada , Brazil , Germany , Netherlands , Australia , and New Zealand . In Canada , the REIT is the largest non-government owner and manager of medical office buildings and healthcare facilities from coast to coast, including major concentrations in Calgary , Edmonton , Toronto , Montreal , Quebec City and Halifax . In its international markets, the REIT is a partner with the region's leading healthcare operators and has built leading management platforms in global gateway cities comprised of quality healthcare real estate infrastructure assets with a capacity for future growth.

WiredScore is the organization behind Wired Certification, the internationally recognized digital connectivity rating system for commercial real estate that helps landlords design and promote buildings with powerful digital connectivity.

Wired Certification champions cutting-edge technology in commercial real estate by providing the only certification for rating the infrastructure, connectivity and technological capacity of commercial buildings. WiredScore launched Wired Certification in 2013 in partnership with Mayor Bloomberg and the City of New York ; in October of 2017, an investment group led by Bessemer Venture Partners and Fifth Wall acquired the company's majority share.

In an increasingly tech-driven economy, connectivity is fast becoming the most critical factor for tenants when selecting office space. The widely recognized Wired Certification seal is a trusted symbol that identifies buildings that have been independently certified to provide the best-in-class connectivity infrastructure that businesses require to thrive. For more information on Wired Certification or to find Wired Certified buildings, visit: http://wiredscore.com/

This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.

SOURCE NorthWest Healthcare Properties Real Estate Investment Trust

View original content: http://www.newswire.ca/en/releases/archive/May2019/24/c4892.html