M&A Activity • Sep 28, 2017
M&A Activity
Open in ViewerOpens in native device viewer
REGULATED INFORMATION 28 September 2017 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 – 28 September 2017
Following the concluded Letter of Intent (see the Company's press release on the Half-yearly financial report 2016, published on 22 September 2016, available on the Company's website; www.carepropertyinvest.be), Care Property Invest announces the agreement subject to suspensory conditions on the acquisition of 100% of the shares in the company VSP Wolvertem bvba. VSP Wolvertem bvba is the owner of the residential care centre "Oase" located in Wolvertem (Meise) that can accommodate up to 80 residents and is operated by VZW Den Binner.
The conventional value of this project is approximately €16 million.
"By acquiring the residential care centre "Oase", Care Property Invest continues to expand its real estate portfolio. The project will be the eleventh acquired by the Company in the province of Flemish Brabant and contributes to a well-balanced geographical distribution between the Belgian provinces. The project is already in operation and would bring the total number of care projects within our real estate portfolio to 88."
The residential care centre is operated by VZW Den Binner, through a long-term agreement of the "triple net" type.
"Oase" is located in the centre of Wolvertem (Meise), within walking distance of the town hall and administrative centre. Its central location combined with the proximity of the exit of the A12, ensurs a maximum accessibility of the project, both by car and public transportation.
The residential care centre is a new building, serving as a replacement building for the old one, and has a total capacity of 80 residential places, distributed over 72 single rooms and 4 double rooms.
All services areas and logistics operations have been foreseen on the underground level so residents can enjoy an oasis of tranquillity in the communal facilities located above ground. In good weather, residents can catch up with their visitors on the Grand Café's terrace of over 220m², or enjoy the courtyard garden of the residential care centre. The residents can also use the dining area's terrace.
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
Care Property Invest will acquire all of the shares in the company VSP Wolvertem bvba. The conventional value of this property is approximately €16 million. This price is largely based on and in line with the valuation of the real estate expert. The acquisition of VSP Wolvertem bvba is expected to be completed this fall, after suspensory conditions have been met.
Care Property Invest would like to reconfirm its desire to expand their real estate portfolio in the future with health care infrastructure in the Flemish, Walloon and Brussels-Capital Regions as well as elsewhere in 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 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
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 21st birthday 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. .
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.