Northwest Healthcare Properties REIT has extended its credit facility and sold non-core assets as part of an ongoing effort to boost its unit value.

Toronto-based Northwest stretched the maturation date on its C$172-million credit facility with a syndicate of Canadian lenders by one year to January 2025, Northwest announced in a news release.

Northwest expects to earn an additional $50 million in the fourth quarter of 2023 from non-core asset sales after generating $74 million so far this year. Another $100 million in dispositions are under contract or on the market.

The REIT also expects to sell or redeem the balance of its Australian Unity Healthcare Property Trust holdings for $110 million to $120 million following a settlement with its manager.

Meanwhile, Northwest has reduced its monthly distribution to $0.03 per unit from $0.07 per unit and hired Scotiabank, RBC Capital Markets and Deutsche Bank Securities and law firm DLA Piper to assist with an ongoing strategic review.

Northwest launched the review in August after revamping its leadership team.