M&A Activity • Jul 5, 2016
M&A Activity
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Free translation. The Dutch version will prevail.
REGULATED INFORMATION 5 July 2016 – after the close of the stock market under embargo until 17:40 CET
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")
Care Property Invest announces the agreement subject to suspensory conditions on the acquisition of 100% of the shares in the company Ter Bleuk nv on 5 July 2016. This company owns the group of assisted living apartments Ter Bleuk in Rijmenam/Bonheiden.
Care Property Invest NV 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 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. Senior Living Group groups more than 50 residential care centres spread throughout the whole country, where more than 3,500 employees surround more than 6,000 residents with the appropriate care. Senior Living Group is in its turn a subsidiary of the European healthcare group Korian, counting more than 290 residential care centres and 74 clinics.
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 will acquire 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 future acquisition is perfectly in line with the strategy as outlined by the board of directors and the change of purpose that Care Property Invest has developed in the past years/months. This in particular involves participation in public tenders, purchasing existing projects, jointly developing new projects and so on
Care Property Invest (formerly Serviceflats Invest) wishes to further expand its real estate portfolio , in the future too, with all the types of housing included in the residential care decree (residential care centres, groups of assisted living apartments, etc.) and all kinds of housing for the disabled.
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.
General Director/Managing 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
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
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