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Care Property Invest NV/SA
M&A Activity • Mar 31, 2021
3926_iss_2021-03-31_e43a1bef-961e-483d-a818-ad0b64ca6363.pdf
M&A Activity
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PRESS RELEASE
Free translation, the Dutch version prevails
REGULATED INFORMATION 31 March 2021 After trading hours – Under embargo until 17h45 Inside information
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")
NL - ACQUISITION OF A CARE RESIDENCE TO BE DEVELOPED IN OUDERKERK AAN DE AMSTEL
Schoten, Belgium – 31 March 2021
Care Property Invest announces the acquisition of the development project 'Amstel', a luxurious care residence for elderly people with intensive care needs. The project is located at the edge of the village Ouderkerk aan de Amstel and will have 32 care apartments at its disposal after its delivery.
Today the Company acquired the buildings and land of the project 'Amstel' through its Dutch subsidiary Care Property Invest.NL6 BV. Simultaneously, the Company also entered into a separate turnkey agreement with the developer, SEC B.V., for the construction of this care residence, based on an extensive programme of requirements and guidelines agreed upon between Care Property Invest.NL6 B.V. and the future operator of this care residence. The provisional delivery of the project is expected at the end of 2022.
The operation of the project will be carried out by Stepping Stones (part of Korian Nederland) as of the provisional delivery on the basis of a new long-term rental agreement of the 'triple net' type with a duration of 15 years (renewable and annually indexable).
The total investment value for this project is estimated to be approximately €9.6 million.
Quote Peter Van Heukelom, CEO of Care Property Invest:
'With its 19th residential care project, Care Property Invest further expands its Dutch healthcare real estate portfolio. This development concerns a Nearly Energy Neutral Building and thus forms a nice chapter in the sustainability story which the Company is writing. This is no less than our fifth collaboration with the renowned healthcare operator Korian Nederland. Including this project, the total number of residential care projects in our portfolio now amounts to 131.''
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 F +32 3 222 94 95 E [email protected] www.carepropertyinvest.be
About Stepping Stones and Korian
Stepping Stones specialises in small-scale residential projects for the elderly where personalised care is key. It is a subsidiary of Korian Nederland, which in turn is part of the listed European healthcare group Korian SA, one of the largest and most progressive organisations for care, well-being and support for the elderly in Europe.
Korian is currently operating in no less than 6 countries (Belgium, France, Germany, Italy, Spain and The Netherlands) and has developed a network of more than 1,000 residential care facilities.
The property will be operated on the basis of a new long-term leasehold agreement of the 'triple net' type with an initial duration of 15 years (renewable and annually indexable).
The property
| Ouderkerk aan de Amstel - 'Amstel' | ||
|---|---|---|
| ADDRESS: | Polderweg 3, 1191 JR Ouderkerk aan de Amstel, The Netherlands | |
| CAPACITY: | Care residence with 32 residential units (32 care apartments) | |
| OPERATOR: | Stepping Stones (part of Korian Holding Nederland B.V.) | |
| · LOCATION: | On the edge of the village of Ouderkerk aan de Amstel (provillage centre is about 1 km away from the care residence and, as the name suggests, the Amstel River runs right through the village, making it a pleasant place to spend time in the various eating and drinking establishments along the water's edge. The project is easily accessible by car via the A9 (Alkmaar-Amsterdam South-East) and the N522 (Amstelveen-Ouderkerk), |
|
| FACILITIES: | DESCRIPTON PROPERTY AND The building will have a total can in the will be care apartments Residents will be able to keep fit in the adjacent sports facility and enjoy the sun on the adjoining terrace or in the garden. |
|
| YEAR OF CONSTRUCTION / RENOVATION: |
Provisional delivery is expected by the end of 2022. | |
| CONTRACT TYPE: | New long-term leasehold agreement of the 'triple net' type with a minimum duration of 15 years (renewable and annually indexable). |
|
| INVESTMENT VALUE | €9.6 million. | |
| · TRANSACTION: | Asset deal: acquisition of land and buildings through its Dutch subsidiary Care Property Invest.NL6 B.V. | |
| · FINANCING: | Loan capital. |
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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.
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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 - F +32 3 222 94 95 - M +32 499 28 01 43 Horstebaan 3 2900 Schoten [email protected] www.carepropertyinvest.be
Alexander Watson Investment Manager [email protected] T +32 3 222 94 94 - F +32 3 222 94 95 - M +32 495 21 42 21 Horstebaan 3 2900 Schoten [email protected] www.carepropertyinvest.be
Peter Van Heukelom CEO– Executive director [email protected] T +32 3 222 94 94 - F +32 3 222 94 95 - M +32 495 59 82 67 Horstebaan 3 2900 Schoten [email protected] www.carepropertyinvest.be
About Care Property Invest
Care Property Invest NV is a Public Regulated Real Estate Company (Public SIR/GVV) under Belgian law. Based on a solid organisation, Care Property Invest helps healthcare entrepreneurs to undertake property projects by offering real estate tailored to the end user, that is both qualitative and socially responsible. For its shareholders, Care Property Invest strives for a stable long-term rate of return.
This year, Care Property Invest's share is celebrating its 25th anniversary on Euronext Brussels. The share is listed under the name of CPINV and has the following ISIN-Code: BE0974273055. As from December 2016, the share is a constituent of the Belgium BEL Mid Index and the Company has become a member of EPRA.
In September 2020, the Company received its fourth EPRA BPR Gold Award. As from 1 November 2019, the share is a constituent of the Euronext Next 150 Index.
All further information regarding the Company can be found on our website, www.carepropertyinvest.be. Here we will keep you informed on a dedicated page about the (possible) impact of the COVID-19 epidemic on the business activities of Care Property Invest.