M&A Activity • Jun 17, 2020
M&A Activity
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Free translation, the Dutch version prevails
REGULATED INFORMATION 17 June 2020 After trading hours – Under embargo until 23h30 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 – 17 June 2020
Care Property Invest announces the agreement under suspensory conditions for the acquisition of the residential care centre with assisted living apartments to be developed 'Dungelhoeff', located in Lier. 'Dungelhoeff' will comprise a residential care centre with 128 residential places, including a rehabilitation centre with 7 places, and a group of assisted living apartments with 30 residential units.
Upon completion of the project (expected end of 2021) Care Property Invest will acquire 100% of the shares in Apollo Lier NV, owner of the real estate on closing date.
At the time of closing, 'Dungelhoeff' will be operated on the basis of a new long-term annually indexable leasehold agreement with a minimum duration of 27 years (renewable) of the 'triple net' type by Vulpia Care groep, which will enter into a partnership with vzw Herenhof for this purpose.
The total investment value for this project is estimated to be approximately €26.5 million.
'With this development, we are continuing to construct our healthcare real estate portfolio which, including this facility, now comprises 121 projects, two of which are subject to suspensory conditions. Thanks to its strategic location, the project will offer a wonderful mix of living in green surroundings and vibrant urban life. We are also delighted to be able to once again join forces with the experienced care operator Vulpia Care groep for the operation.''
The property
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
| Lier - Dungelhoeff | ||
|---|---|---|
| · ADDRESS: | Kazernedreef, 2500 Lier, Belgium | |
| CAPACITY: | Residential care centre with 128 residential places - New building 128 rooms (128 single rooms) and 30 assisted living apartments |
|
| OPERATOR: | Upon closing, the operation will be carried out by Vulpia Care groep, which will enter into a partnership with vzw Herenhof for this purpose. |
|
| · LOCATION: | In a quiet green neighborhood, but only a 10 minute walk from the bustling center of Lier, where several banks, shops and supermarkets are located. Good accessibility by car (R16, N14 and N10) and public transport through bus stops only 200 and 400 meters away and the train station only 750 meters away. |
|
| DESCRIPTION PROPERTY AND FACILITIES: |
The residential care centre can accommodate 128 residents in 128 single rooms, 7 of which are equipped for short stays. It has an in-house doctor's office, a physiotherapy practice, a hairdressing salon and pedicure room. There is a restaurant on the ground floor. Outside there is a beautiful garden with a terrace where residents can enjoy a drink with their visitors. The group of assisted living apartments includes 30 comfortable apartments. |
|
| · YEAR OF CONSTRUCTION RENOVATION: |
Completion expected end of 2021 | |
| • CONTRACT TYPE: | New long-term leasehold agreement of the 'triple net' type, which can be indexed annually with a minimum duration of 27 years (renewable). |
|
| · CONVENTIONAL VALUE: | Approximately €26.5 million | |
| · TRANSACTION: | Acquisition of 100% of the shares in Apollo Lier NV | |
| · FINANCING: | Loan capital |
Care Property Invest will acquire 100% of the shares in Apollo Lier NV upon completion of the project (expected at the end of 2021). This company will be the full owner of the real estate on closing date.
The property will have an estimated total investment cost of approximately €26.5 million, which will be fully financed with 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, as well as elsewhere in the European Economic Area.
• • •
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:
Peter Van Heukelom Chief Executive Officer - Member of the executive committee [email protected] T +32 3 222 94 94 - F +32 3 222 94 95 - M +32 459 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 2019, the Company received its third EPRA BPR Gold Award. As from 1 November 2019, the share is also a constituent of the Euronext Next 150 Index.
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