Regulatory Filings • Sep 18, 2015
Regulatory Filings
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Free translation. The Dutch version will prevail.
REGULATED INFORMATION 18/09/2015 – after the close of the stock market under embargo until 17:45 CET
Public limited liability company (société anonyme/naamloze vennootschap), Public Regulated Real Estate Company (Société Immobilière Réglémentée (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 acquisition of 100% of the shares of the companies NV CROONENBURG and NV B. TURNHOUT on 18 September 2015. These companies are each owner of a residential care centre in Turnhout, i.e. WZC Aan de Kaai and WZC De Nieuwe Kaai.
Both residential care centres are ideally located in the immediate vicinity of the centre and the Turnhout marina, in the province of Antwerp and are situated within walking distance of shops, banks, pharmacy, etc. Also, the sites are easily accessible by public transport. The residential care centre De Nieuwe Kaai has been in operation since 2005 and has currently a capacity of 86 rooms (94 beds WZC) and 13 service flats/assisted living apartments, together with 33 underground parking spaces. The residential care centre Aan De Kaai has been in operation since 2012 and has currently a capacity of 74 rooms (82 beds WZC) together with 2 onderground parking spaces and 14 parking spaces above ground. Both residential care centres have obtained the necessary permits to operate a residential care centre.
The contractual value of both projects together amounts to approximately 34 million EUR. This contractual value is largely based on and in line with the valuation of the real estate expert for both residential care centres.
Both residential care centres will be operated by the ASBL vzw De Nieuwe kaai under the control of Vulpia Care Group through a triple net long lease, whereby the NV CROONENBURG and NV B.TURNHOUT will be paid an indexed fixed ground rate, thus generating a fixed income. The Vulpia Care Group has been launched in 1996 on the initiative of its CEO Luc Van Moerzeke with the opening of its first residential care centre, the residence Beukenhof. Through the years, the Vulpia Care Group has known a considerable expansion. Currently it operates 19 residential care centres with approx. 1700 beds and 175
service flats/assisted living apartments. Also Vulpia Care Group has indicated its ambition to grow with another 2000 housing units over the coming years. The Vulpia Care Group is the 5th largest private operator in Belgium.
This purchase allows a further diversification of the operating portfolio of Care Property Invest as this transaction is a first cooperation with the Vulpia Care Group, a high quality operator of residential care centres and groups of assisted living apartments and fits perfectly in the strategy outlined by the board of directors and the change in objectives Care Property Invest developed in recent years/months. It is the second residential care centre acquisition in Care Property Invest's portfolio. Care Property Invest (formerly Serviceflats
Invest) intends to further expand its real estate portfolio including all types of housing contained in the residential care decree (residential care centres, groups of assisted living apartments, etc.) and all types 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.
Chief Executive Officer/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
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