Pine Trail REIT Secures Key Lease and Advances Hospital Project

Pine Trail REIT has successfully secured a three-year lease with a group of family physicians at The Picton Clinic, located at 389 Main Street in Prince Edward County. This agreement reinforces the clinic’s importance as a primary care provider in the region, responding to the increasing demand for modern medical facilities in smaller markets.

The lease highlights the significance of attracting early-career physicians, particularly an all-women group that embodies a collaborative and patient-focused approach to healthcare. This initiative aligns with the evolving landscape of healthcare delivery, emphasizing continuity of care for patients in the community.

Progress on Adjacent Hospital Development

The Picton Clinic is strategically situated next to the under-construction Prince Edward County Memorial Hospital, a groundbreaking facility that is set to become North America’s first mass timber hospital. The hospital’s design emphasizes sustainability and performance, utilizing Canadian black spruce sourced from northern Quebec.

Construction is currently 35% complete, with expectations for the hospital to open in 2027 and full delivery anticipated in early 2028. This project is part of a broader initiative to modernize healthcare infrastructure in the area, providing residents with access to advanced medical services.

According to Andrew Shapack, Chief Executive of Pine Trail REIT, the lease and hospital development reflect a commitment to enhancing healthcare options in Prince Edward County. The REIT aims to position itself as a leader in the healthcare real estate sector, catering to the evolving needs of communities.

The ongoing development of the Prince Edward County Memorial Hospital represents a significant investment in local healthcare capabilities. As the facility takes shape, it is poised to play a vital role in improving health outcomes for residents, ultimately contributing to the overall well-being of the community.

As the project progresses, stakeholders remain optimistic about the positive impact it will have on both healthcare access and the local economy. The REIT continues to monitor construction developments and engage with the community to ensure the project meets the needs of those it serves.

For further information, interested parties can contact Andrew Shapack at +1 416-276-8560.

In light of the forward-looking statements, the REIT cautions that actual results may differ from projected outcomes due to various risks, including construction delays or adverse weather conditions. The REIT emphasizes that the information shared in this announcement is based on publicly available data, and it undertakes no obligation to update forward-looking statements unless required by applicable securities laws.