Northwest Healthcare Properties REIT remains in sell-off and debt-management mode as the end of 2023 approaches.

The Toronto-based REIT announced Wednesday that it has completed investment and non-core asset sales for $235.1 million in gross proceeds to date, while additional non-core asset sales are under contract. Toronto-based Northwest is also working to divest its remaining stake in the Australian Unity Healthcare Fund.

“While a strategic review is underway, management and the board have taken key actions in the near term to strengthen the balance sheet and the business,” said CEO Craig Mitchell in a news release accompanying Northwest’s quarterly report.

Meanwhile, the REIT has secured a new $140-million term loan to extend maturities. Mitchell said Northwest will eliminate all of its 2023 debt maturities and more than 60% of its 2024 debt maturities.

In September, Northwest announced that it had sold non-core assets and extended the maturity date on its $172-million credit facility to 2025.

Northwest overhauled its leadership team and launched the strategic review in a bid to increase unit value.  Mitchell was named permanent CEO in late October after serving in an interim capacity since August.