M&A Activity • Nov 16, 2020
M&A Activity
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Free translation, the Dutch version prevails
REGULATED INFORMATION 16 November 2020 After trading hours – Under embargo until 17h45 Inside information
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")
Schoten, Belgium – 16 November 2020
Care Property Invest announces the acquisition under suspensory conditions of the residential care centre 'Emera Murcia' located in Murcia. This project is its third acquisition in a short time on the Spanish market and will offer a total capacity of 171 residential places, divided over 85 single rooms and 43 double rooms, in the residential care centre and 25 people in its day care centre. The effective acquisition of 'Emera Murcia' will take place upon the provisional delivery, whereby the Company will acquire 100% of the shares in the real estate company in which this project is incorporated.
'Emera Murcia' is a new construction project developed by the Spanish real estate company Euroseniorsclub, currently in the final stage of development. Upon provisional delivery of the building (expected in Q2 of 2021), Care Property Invest will acquire 100% of the shares in Euroseniorsclub Murcia S.L., the real estate company in which the entire project is incorporated.
'Emera Murcia' will be operated by a subsidiary of Groupe Emera on the basis of new long-term rental agreement of the 'triple net' type with a minimum duration of 15 years (renewable), which will be indexed annually. This agreement will be effective as of the date of the effective acquisition.
The total investment value for this project is estimated to be approximately €10.8 million.
Strengthened by its 25 years of experience, the Company wants to establish itself in this southern European country, for which statistics predict that the number of people aged 65+ will increase by as much as 67% by 2040.
'With the signing of our 125 th project, located in Murcia, we are proud to gain further foothold in the Spanish healthcare real estate market within a new Spanish province. This is a stunning new construction project in a central location, close to the city center. This is the third project on this market for which we are partnering with the healthcare operator Groupe Emera. Our ambition is to continue the current acquisition pace and thus strengthen our European position as a listed healthcare real estate player.''
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
With 70+ nursing homes in 6 European countries and more than 6100 beds in its portfolio, the French healthcare operator Groupe Emera is the seventh largest player for elderly care in France and in Europe. They are currently active in France (53 nursing homes), Spain (9 nursing homes), Belgium (4 nursing homes), Luxembourg (1 nursing homes), Switzerland (1 nursing homes) and Italy (2 nursing homes). Group Emera took its first steps on the Spanish market in 2017 and currently operates 6 sites with approximately 760 beds. The Emera Group has several new projects to be opened in the coming months.
| THE REAL PROPERTY AND I | Murcia - 'Emera Murcia' | |
|---|---|---|
| · ADDRESS: | Calle Avenida De La Justicia, Murcia, Spain | |
| CAPACITY: | Residential care centre with 171 residential units 128 rooms (85 single rooms and 43 double rooms) and a day care center with a capacity of 25 people |
|
| OPERATOR: | A 100% subsidiary of Groupe Emera | |
| LOCATION: | Located in a commercial environment between the three main roads of Murcia and right next to a residential suburb of the city. There are several stores and restaurants 500m away from the project. The city center of Murcia is 3 km away. The project is easily accessible by car via the N340 and N301, as well as by public transport thanks to a bus stop 280m away. |
|
| DESCRIPTION PROPERTY AND FACILITIES |
The project consists of a building with 5 levels and will have 128 private rooms and a day care centre for 25 people. The residential care centre will provide the possibility of an indoor doctor's and nursing practice, a physiotherapy practice, a hairdresser's salon and a pedicure room |
|
| YEAR OF CONSTRUCTION / RENOVATION: |
Provisional delivery is expected Q2 2021. | |
| 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 | $f10.8$ million. | |
| TRANSACTION: | Share deal: after the provisional delivery, our Spanish subsidiary will acquire 100% of the shares in the real estate company in which this project is incorporated. |
|
| FINANCING | Debt financing. |
• • • 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.
• • •
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
Investment Manager [email protected] T +32 3 222 94 94 - F +32 3 222 94 95 - M +32 483 11 80 17 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
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 celebrates its 24th 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 also 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.
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