M&A Activity • Mar 29, 2018
M&A Activity
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Free translation, the Dutch version prevails
REGULATED INFORMATION 29 March 2018 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 – 29 March 2018
Care Property Invest announces the acquisition of the residential care centre 'Home Aldante' in Koekelberg through the acquisition of 100% of the shares in Aldante nv, the company that possesses the real estate of this residential care centre.
The project has a capacity of 60 residential places and is operated by the Vulpia Care Group on the basis of a long-term agreement. One of 'Home Aldante's' greatest assets is its excellent location near the Koekelberg Basilica, in the middle of a residential area.
The conventional value of this project amounts to approximately €3.5 million.
'With the acquisition of this excellently located residential care centre, we are reinforcing our position within the Brussels Capital Region and our cooperation with this highly experienced health care operator.
This project brings the total number of healthcare projects in our real estate portfolio to 95, a number that includes the 'Residentie 't Neerhof' project, that has also been acquired today.
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 Vulpia Brussel vzw, an entity 100% under the control of the Vulpia Care Group, one of the largest Belgian health care providers for the elderly. The property of this residential care centre is made available through a leasehold agreement of the 'triple net' type with a duration of 27 years (renewable).
The residential care centre is located in a neighborhood with a residential character and enjoys a premium location with the Koekelberg Basilica and the avenue Charles Quint in its backyard. For those who want to enjoy the vibrant city life there are several restaurants, bars and supermarkets nearby. But nature lovers will also find something to their liking and can take a quiet walk among the greenery in one of the nearby parks.
The project is easily accessible, both by car and public transport thanks to bus 20 and tram 19, which stop right around the corner.
'Home Aldante' consists of 5 floors, one of which is underground. On the ground floor, residents can relax in the bar, salon or private courtyard. For further physical care they can enjoy the in-house hairdressing salon and physiotherapy room. The residential care centre's 60 residential places are divided into 50 single and 5 double rooms, some of which have a private terrace.
Care Property Invest has acquired all shares in the company Aldante nv, owner of the real estate of the residential care centre. This property has a conventional value of approximately €3.5 million. This value is largely based on and is in line with the valuation of the real estate expert.
Care Property Invest will repay the current appropriations in Aldante nv and finance the remainder with borrowed funds.
Care Property Invest would like to reconfirm its desire to expand its real estate portfolio in the future with health care infrastructure in the Flemish, Walloon and Brussels-Capital Regions 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.
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
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 22nd 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 has also been included in the BEL Mid index and the Company has become a member of EPRA.
In September 2017, the Company received its first EPRA BPR Gold Award. .
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