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Care Property Invest NV/SA
M&A Activity • Feb 3, 2022
3926_iss_2022-02-03_6b38126f-4fb0-42e3-9d14-62b686e8e8f4.pdf
M&A Activity
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PRESS RELEASE
Free translation, the Dutch version prevails
REGULATED INFORMATION INSIDE INFORMATION Thursday 3 February 2022 After trading hours – Under embargo until 17h45
CARE PROPERTY INVEST
Public limited liability company (société anonyme/naamloze vennootschap), Public Regulated Real Estate Company (Société Immobilière Réglementée (SIR) / Gereglementeerde Vastgoedvennootschap (GVV)) under Belgian Law Registered Office: 3 Horstebaan, 2900 Schoten
Companies Registration No. 0456.378.070 (LPR Antwerp)
(the "Company")
Care Property Invest acquires a residential care residence to be developed in Zuidwolde (The Netherlands)
Schoten, Belgium – Thursday 3 February 2022
Care Property Invest announces the acquisition of the development project 'Warm Hart Zuidwolde', a care residence for elderly people with intensive care needs. The project is located on the outskirts of the village of Zuidwolde (province of Drenthe) and will feature 42 care flats upon completion.
Today the Company acquired the buildings and land of the project 'Warm Hart Zuidwolde' through its Dutch subsidiary Care Property Invest.NL5 BV. Simultaneously, the Company also entered into a separate turnkey agreement with the risk-bearing developer, Nikkels bouwbedrijf bv, for the construction of this care residence, based on an extensive programme of requirements and guidelines agreed upon between Care Property Invest.NL5 B.V. and the future operator of this care residence. The provisional delivery of the project is expected in the second quarter of 2023.
The operation of the project will be carried out by Warm Hart Zorghuizen as of the provisional delivery on the basis of a new long-term rental agreement of the 'triple net' type with a duration of 20 years (renewable and annually indexable).
The total investment value for this project is estimated to be approximately €10.4 million.
Peter Van Heukelom, CEO of Care Property Invest;
'This development project will mark the first cooperation with a new, ambitious operator on the Dutch healthcare real estate market: Warm Hart Zorghuizen. Including this project, the total number of residential care projects in our portfolio now
amounts to 131.'
The site
The residential care centre will be built in the new residential area 'Ekelenberg', located on the edge of the village centre of Zuidwolde (province of Drenthe).
Care Property Invest NV/SA Horstebaan 3 2900 Schoten BE 0456 378 070 - LPR Antwerp Public RREC under Belgian law
T +32 3 222 94 94 E [email protected] www.carepropertyinvest.be
The building will have a total of 42 apartments, spread over three floors (one ground floor and 2 upper floors). It will also house a fitness and rehabilitation room, a hairdresser's salon and a pedicure room, among other things.
The project is easily accessible both by car and by public transport thanks to the N48 connecting road and a bus stop just 500 metres from the project.
The operator
Warm Hart Zorghuizen was founded in 2021 by two healthcare professionals with more than 25 years of experience: Sandra Xhofleer and Albert Verschuren. They focus on the operation of sustainable and contemporary residential, service, welfare and care complexes, hospices and residential landscapes in The Netherlands.
Warm Hart Zorghuizen focuses primarily on the operation of small-scale complexes for intensive care in the middle segment. The operator wants to establish itself primarily in village centres and urban agglomerations.
The transaction
Today the Company acquired the buildings and land of the project 'Warm Hart Zuidwolde' through its Dutch subsidiary Care Property Invest.NL5 BV. Simultaneously, the Company also entered into a separate turnkey agreement with the risk-bearing developer, Nikkels bouwbedrijf bv, for the construction of this care residence, based on an extensive programme of requirements and guidelines agreed upon between Care Property Invest.NL5 B.V. and the future operator of this care residence. The provisional delivery of the project is expected in the first quarter of 2023. Ridge B.V. was the seller of this project.
The construction works will be financed by the Company in instalments, depending on the progress of the works. These works would start in the first quarter of 2022 and the delivery of the entire project is planned for the second quarter of 2023.
The operation of the project will be carried out by Warm Hart Zorghuizen as of the provisional delivery on the basis of a new long-term rental agreement of the 'triple net' type with a duration of 20 years (renewable and annually indexable).
Overview sheet
| Zuidwolde (NL) – Warm Hart Zuidwolde | |||
|---|---|---|---|
| Acquisition date: | 3 February 2022 | ||
| Address: | Spinwiefien 15, 7921 JT Zuidwolde, The Netherlands | ||
| Operator: | Warm Hart Facilitair en Services B.V., part of Warm Hart Zorgghuizen B.V. | ||
| Capacity: | Care residence with 42 care apartments | ||
| Project: | The building will have a total of 42 apartments, spread over three floors (one ground floor and 2 upper | ||
| floors). It will also house a fitness and rehabilitation room, a hairdresser's salon and a pedicure room, among other things. |
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| Location: | The residential care centre will be built in the new residential area 'Ekelenberg', located on the edge of the village centre of Zuidwolde (province of Drenthe). The project is easily accessible both by car and by public transport thanks to the N48 connecting road |
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| and a bus stop just 500 metres from the project. | |||
| Year of construction/ | Start of construction works: in Q1 of 2022. | ||
| renovation: | Provisional delivery expected in Q2 of 2023. | ||
| Transaction: | Asset deal | ||
| Type of contract: | New long-term lease agreement of the 'triple net' type with a minimum duration of 20 years | ||
| (renewable and annually indexable). | |||
| Total investment value: | Approximately €10.4 million. | ||
| Financing: | Loan capital. |
• • •
Care Property Invest would like to reconfirm its desire to expand its real estate portfolio in the future with health care infrastructure in Belgium, The Netherlands, Spain, as well as elsewhere in the European Economic Area.
• • •
All further information regarding the Company can be found on our website. Here we will keep you informed on a dedicated page about the (possible) impact of the COVID-19 pandemic on the business activities of Care Property Invest.
Caution regarding forecasts
This press release contains forecasts involving risks and uncertainties, amongst others statements regarding plans, objectives, expectations and intentions of Care Property Invest. Readers are cautioned that such forecasts involve known and unknown risks and are subject to significant business, economic and competitive uncertainties which are mostly beyond Care Property Invest's control. If one or more of these risks or uncertainties materialise or should, if applied, basic assumptions prove incorrect, the final results may significantly deviate from the anticipated, expected, estimated or projected results. Consequently, Care Property Invest cannot assume any responsibility for the accuracy of these forecasts.
For any additional information, please contact:
Valérie Jonkers COO –Executive director [email protected] T +32 3 222 94 94 - M +32 499 28 01 43 Horstebaan 3, 2900 Schoten [email protected] www.carepropertyinvest.be
Matthias Vercammen Investment Manager [email protected] T +32 3 222 94 94 - M +32 495 72 85 85 Horstebaan 3, 2900 Schoten [email protected] www.carepropertyinvest.be
Peter Van Heukelom
CEO– Executive director [email protected] T +32 3 222 94 94 - M +32 495 59 82 67 Horstebaan 3, 2900 Schoten [email protected] www.carepropertyinvest.be
About Care Property Invest
Care Property Invest NV/SA is a Public Regulated Real Estate Company (public RREC) under Belgian law. The Company has been listed on Euronext Brussels for over 25 years and invests in high quality healthcare real estate for elderly and disabled people on the European market. Care Property Invest purchases, builds and renovates high-quality healthcare real estate (residential care centres, groups of assisted living apartments, residential complexes for people with a disability, etc.), fully tailored to the needs of the end user and then makes it available to solid healthcare operators on the basis of a long-term contract.
The Company is developing an international portfolio of healthcare projects, which currently counts 131 projects, spread across Belgium, The Netherlands and Spain.
The market capitalisation of Care Property Invest amounted to approximately €633 million on 02/02/2022. The Company aims to create a stable share for its shareholders with a low risk profile and a stable and steadily growing dividend.
| Ticker: | CPINV | ||
|---|---|---|---|
| ISIN Code: | BE0974273055 | ||
| Index listings: | • Belgium BEL Mid (Euronext Brussels) • Euronext Real Estate (Euronext Brussels) • GPR (Global Property Research) General Europe Index • GPR (Global Property Research) General Europe Quoted Index (excl. open-end bank funds) |
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| EPRA Website |
EPRA member since December 2016. In September 2021, the Company received its fifth EPRA BPR Gold Award. All further information can be found on our website, www.carepropertyinvest.be. |