M&A Activity • Feb 19, 2019
M&A Activity
Open in ViewerOpens in native device viewer
Free translation, the Dutch version prevails
REGULATED INFORMATION 19 February 2019 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 – 19 February 2019
Care Property Invest announces the acquisition of the residential care centre 'Huyse Elckerlyc', located in the centre of Millen (a sub-municipality of Riemst). Therefore it has acquired 100% of the shares in Decorul nv, the company that owns the real estate of this residential care centre. The project has a total capacity of 77 residential places.
The project is operated by Huyse Elckerlyc nv, a subsidiary fully controlled by Senior Living Group (SLG) on the basis of a longterm leasehold agreement of the 'triple net' type.
The conventional value of this project amounts to approximately €6.5 million.
'This is the fourth residential care project that we are realising in collaboration with Senior Living Group. We are pleased to strengthen the relationship with Senior Living Group, which in turn is part of the major European care group Korian. Huyse Elckerlyc strengthens our share on the Belgian market and brings the total number of projects in our real estate portfolio to 102.'
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 residential care centre is operated by Huyse Elckerlyc nv, a subsidiary fully controlled by Senior Living Group nv (SLG). Senior Living Group is one of the leading private operators in Belgium.
The company groups more than 120 residential care facilities across the country, in which 7,500 employees take care of over 12,500 residents. Senior Living Group is a subsidiary of the listed European healthcare group Korian. Korian is currently operating in 5 countries (Belgium, France, Germany, Italy and Spain) and has developed a network of more than 780 residential care facilities.
The property is made available through a long-term leasehold agreement of the 'triple net' type, which will be indexed annually (renewable).
The residential care centre is located in the city centre of Millen (a sub-municipality of Riemst) and lies in the province of Limburg on the edge of the Walloon Region and the Dutch border.
The project is located in a green residential area, with a bakery next door and several restaurants in the vicinity. The AZ Vesalius hospital in Tongeren is only 7 kilometres away from the project.
'Huyse Elckerlyc' can be reached by car via the E313 and the N79. The train station of Tongeren is about a ten-minute drive away and there is a bus stop 200 metres from the building. Therefore it is also easily accessible by public transport.
The project consists of 3 floors and has 77 residential places. These residential places are spread over a total of 73 rooms, divided into 69 single and 4 double rooms. The residential care centre also has a restaurant where fresh meals are prepared inhouse by the kitchen staff on a daily basis. On sunny days, the residents can enjoy the adjacent terrace.
'Huyse Elckerlyc' is equipped to welcome people with both light and heavy care needs.
• • •
• • •
Care Property Invest acquired 100% of the shares in Decorul nv, the company owning the real estate of the residential care centre.
This property has a conventional value of approximately €6.5 million. This value is largely based on and is in line with the valuation of the real estate expert. Existing loans were taken over and the remainder of this amount was 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.
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
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 Chief Operating Officer [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 Philip.DeMonie @carepropertyinvest.be 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
Chief Executive Officer [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/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 celebrated its 23rd 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 2018, the Company received its second EPRA BPR Gold Award. .
Care Property Invest NV/SA Horstebaan 3 2900 Schoten BE 0456 378 070 - LPR Antwerp Public RREC under Belgian law
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.