Mohawk Medical Properties REIT Announces Acquisition of Medical Office Building in Syracuse (Camillus), New York and Provides Update.

TORONTO, Sept. 22, 2017 /CNW/ - Mohawk Medical Properties REIT, a private real estate investment trust, announced today it has acquired the Medical Centre West, a premier, full service, medical office building in Syracuse, New York. This acquisition continues Mohawk's cross-border strategy of investing in economically insulated commercial real estate with cash flow stability and growth potential.

Medical Center West is a 90,000 square foot facility occupied by 100% medical tenancies with over 50 physicians. The building is home to a large surgical center, laboratory, medical imaging, the State of New York sleep center, a large family care practice group, physiotherapy clinic and various other specialists. Most of these physicians are affiliated with the Upstate Medical Health System. Many physician tenants provide medical services for the Upstate Sleep Center, Upstate Cardiology West, Aesthetic Plastic Surgery of Syracuse, FamilyCare Medical Group and Vascular Surgery Office at Camillus. Mohawk Medical Management Corp. will bring its expertise in medical office building management to provide specialized professional management services to tenants and patients at the building.

The REIT has another New York medical property under contract with plans to close in Q4.

KPMG LLP, Chartered Professional Accountants, was appointed as accounting firm for the REIT. The Board of Trustees is finishing its appointment process of an additional Trustee to be approved at the next annual meeting, tentatively scheduled for the first quarter 2018.

About Mohawk Medical Properties REIT

Mohawk is a Toronto based private REIT specializing in healthcare real estate and committed to exceptional returns through reasonable risks. Sean Nakamoto and Andrew Shapack, whose combined track record includes 77 medical office building acquisitions, formed Mohawk in September 2012. The firm engages in acquisition, property management and asset management of North American medical office buildings financed through syndication to investors.

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Certain statements contained in this letter constitute forward-looking statements and forward-looking information (collectively "forward looking statements) within the meaning of applicable Canadian securities laws. Such forward looking statements relate to future events or our future performance. All statements other than statements of historical fact may be forward looking statements. These statements involve unknown and known risks, uncertainties and other factors that may cause actual results or event to differ materially from those anticipated in such forward looking statements. We believe that the expectations reflected in those forward looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward looking statements should not be unduly relied upon as we cannot assure investors that actual results will be consistent with these forward looking statements.

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SOURCE Mohawk Medical Properties REIT