3 Office REITs With 10% Yields | The Motley Fool Canada: "NorthWest Health Prop Real Est Inv Trust (TSX:NWH.UN) owns healthcare real estate in Canada, Brazil, Germany, Australia, and New Zealand. Specifically, it has interests in 123 properties with eight million square feet of gross leasable area of $2.5 billion.
Specifically, 33% of its net operating income (NOI) comes from hospitals and 67% comes from medical office buildings. Geographically, 55% of NOI comes from Canada, 23% comes from Brazil, 12% comes from Germany, and 10% comes from Australasia.
Currently, it’s making accretive expansions in Australia, having completed about 34% of the $77 million projects. So far, it has generated a rent increase of roughly $2.5 million, which is improving same-store NOI. The rest of the expansions are expected to be completed by the second quarter of 2016.
Further, 16 assets in Canada are being held for sale. Of its remaining assets, the REIT has a 95.8% occupancy rate.
NorthWest Health Prop Real Est Inv Trust just finished buying back and canceling $700,000 units with an average unit price of $8.01, which is a discount of about 15% to its third-quarter net asset value of $9.49 per unit.
Today the REIT yields 10% at $8 per unit."
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