M&A Activity • Nov 5, 2020
M&A Activity
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Free translation, the Dutch version prevails
REGULATED INFORMATION 5 November 2020 After trading hours – Under embargo until 18h00 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 – 5 November 2020
Care Property Invest announces the acquisition of the brand new care residence 'Aldenborgh' that will be constructed in Herten (Roermond). This project will consist of no less than 32 residential care apartments, situated on a beautiful domain of approximately 3 acres, surrounded by a particularly beautifully landscaped and well-maintained park. During the construction of 'Aldenborgh' a lot of attention will be paid to the sustainability aspect.
Today, the Company acquired the buildings and the land on which this project will be built through its Dutch subsidiary, Care Property Invest.NL8. Simultaneously, the Company also entered into a separate turnkey agreement with the developer, Knopendoos B.V., for the construction of this care residence, based on an extensive program of requirements and guidelines agreed upon between Care Property Invest.NL8 B.V. and the future operator of this care residence, being Aldenborgh Exploitatie B.V.. The provisional delivery of the project is expected by the end of 2021/ beginning of 2022.
'Aldenborgh' will be operated by Aldenborgh Exploitatie B.V., in cooperation with the care foundation Proteion. This cooperation will take place in the form of an innovative franchise construction in which Proteion will offer high-quality support behind the scenes to this small-scale residential care location. To this end, a new long-term rental agreement of the 'triple net' type with a minimum duration of 25 years (renewable) has been signed, which will be indexed annually.
The total investment value for this project is estimated to be approximately €8 million.
'Care Property Invest is further expanding its Dutch development pipeline with its 15th residential care project, which has an attractive investment value of approximately €8 million. It concerns a small-scale care residence, which will be built in a sustainable way in order to contribute to a greener real estate portfolio. We are looking forward to our first collaboration with the high-quality and small-scale care operator Aldenborgh Exploitatie B.V. and the special collaboration they are entering into with the Proteion foundation. Including this project, the total number of residential care projects in our portfolio amounts to 124.'
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
The founders of Aldenborgh Exploitatie B.V. are Monique- and Hans Smals, both experienced healthcare professionals, both in the field and in managerial positions within the healthcare sector. Monique Smals will be responsible for the daily implementation of the care aspect and for the care personnel and the well-being of the residents. Hans Smals will be responsible for the financial and organizational management of the organization.
To strengthen this small-scale initiative, Aldenborgh Exploitatie B.V. joins forces with the care foundation Proteion. This cooperation will take place in the form of an innovative franchise construction in which Proteion will offer high-quality support to this small-scale residential care location behind the scenes. Through this collaboration, the operator will be able to fully focus on the provision of care and the management of the care residence, while Proteion will build a clear organizational framework based on its extensive experience, knowledge and network, negotiate the contracts with the care office, and lift the organization to the next level through its guidance and advice. For example, issues concerning personnel management, purchase costs, expenditure analyses, marketing and communication can be solved in cooperation with Proteion.
| Roermond - 'Aldenborgh' | ||
|---|---|---|
| · ADDRESS: | Oudeborgstraat 12-14, 6049 CT Herten, Roermond, The Netherlands | |
| CAPACITY: | Care residence with 32 residential units (care apartments) | |
| OPERATOR: | Aldenborgh Exploitatie B.V. in cooperation with the care foundation Proteion | |
| · LOCATION: | Located 4 km from the city center of Roermond, where you will find stores, supermarkets, restaurants and banks. In the vicinity there are some cafes, restaurants, a pharmacy and a doctor's practice. The project is easily accessible by car via the A73 (Roermond-Venlo) and the A2 (Eindhoven-Roermond), as well as by public transport thanks to a bus stop 300m away. |
|
| DESCRIPTION PROPERTY AND FACILITIES: |
The building will consist of 1 level and will have a total capacity of 32 residential care apartments. All apartments will have a separate bedroom, bathroom and living room. Each resident will have a private terrace on the ground floor, which will offer a panoramic view of the beautiful estate. |
|
| YEAR OF CONSTRUCTION / RENOVATION: |
Provisional delivery is expected end of 2021/ beginning of 2022. | |
| CONTRACT TYPE: | New long-term leasehold agreement of the 'triple net' type with a minimum duration of 25 years (renewable and annually indexable). |
|
| · INVESTMENT VALUE: | $€8.2$ million. | |
| · TRANSACTION: | Asset deal: acquisition of land and buildings through its Dutch subsidiary Care Property Invest.NL8, and separate turnkey agreement with the developer for the construction of this care residence. |
|
| · 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.
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
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/SA Horstebaan 3 2900 Schoten BE 0456 378 070 - LPR Antwerp Public RREC under Belgian law
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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