M&A Activity • Dec 22, 2016
M&A Activity
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Free translation. The Dutch version will prevail.
22 December 2016 after trading hours under embargo until 17h40
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- 22 December 2016-
Following the press release of 5 July 2016, Care Property Invest announces the acquisition of 100% of the shares in the company Ter Bleuk nv. The closing took place on 22 December 2016, after the fulfilment of all suspensory conditions. This company owns the group of assisted living apartments Ter Bleuk in Rijmenam/Bonheiden, managed by the non-profit organisation Zonneweelde vzw, a subsidiary of Senior Living Group nv. The contractual value of this project is approximately 13.4 million euros.
"We are pleased to expand our portfolio with this reputable group of assisted living apartments, surrounded by a green oasis. After this investment, our Belgian portfolio will contain 83 projects.
Group of assisted living apartments Ter Bleuk
Care Property Invest NV/SA Horstebaan 3 2900 Schoten T +32 3 222 94 94 F +32 3 222 94 95 E [email protected]
BE 0456 378 070 LPR Antwerp Public RREC under Belgian law www.carepropertyinvest.be
The operation of this group of assisted living apartments is managed by the non-profit organisation Zonneweelde vzw. This is a subsidiary of Senior Living Group nv. The Senior Living Group owns more than 70 residential care centres spread throughout the whole country, where more than 4,300 employees surround more than 8,000 residents with the appropriate care. Senior Living Group is in its turn a subsidiary of the listed European healthcare group Korian, counting more than 290 residential care centres and 74 clinics. SLG is one of the largest private operators in Belgium.
Ter Bleuk Assistentiewoningen is located in a beautiful residential green area between Bonheiden, Rijmenam and Keerbergen. The site is close to the residential care centre Zonneweelde, that is also run by Senior Living Group.
Ter Bleuk Assistentiewoningen consists of 4 living pavilions with in total 52 assisted living apartments and 1 polyvalent pavilion in which various communal areas are accommodated.
It is a project that fits entirely within its residential surroundings. The living pavilions each consist of two floors, each level including 6 to 8 assisted living apartments with one or two bedrooms.
Care Property Invest acquired 100% of the shares in Ter Bleuk nv, owner of buildings and land of Ter Bleuk Assistentiewoningen.
The contractual value of Ter Bleuk Assistentiewoningen (buildings and land) is approximately 13.4 million euros. This contractual value is primarily based on and is in line with the valuation by the real estate expert for the project.
Ter Bleuk nv will use a long-term lease agreement (of the triple net type) with Zonneweelde vzw to generate an indexed fixed annual ground rent.
This acquisition is perfectly in line with the strategy as outlined by the Board of Directors of Care Property Invest, in particular involving participation in public tenders, purchasing existing projects and jointly developing new projects. In the future, Care Property Invest will further expand its real estate portfolio with health care infrastructure in the Flemish, Walloon and Brussels-Capital Regions as well as throughout 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 - member of the Management Committee [email protected] T +32 3 222 94 94 - F +32 3 222 94 95 - E +32 499 28 01 43 Horstebaan 3 2900 Schoten [email protected] www.carepropertyinvest.be
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