M&A Activity • Feb 23, 2017
M&A Activity
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Free translation. The Dutch version will prevail.
23 February 2017- 17h40 After trading hours Regulated information 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- 23 February 2017-
Care Property Invest announces the agreement subject to suspensory conditions on the acquisition of 100% of the shares of the company Siger SA. Siger SA possesses 100% of the shares of Dermedil SA, the owner of the property. The aforementioned property is "Residence Bois de Bernihè", located in Libramont. The project consists of a residential care centre with 108 residential places divided over 95 rooms, and 18 assisted living apartments, that will be operated by Vulpia Wallonie asbl. The conventional value of this project is approximately 11.3 million euros.
With this new investment in "Residence Bois de Bernihè", Care Property invest reaches a second important milestone within the same week. After signing the agreement to our first investment in the Brussels Capital Region last week, we have now signed the agreement to our first investment in the Walloon Region. After this acquisition, our real estate portfolio will contain projects in all three Belgian Regions, which will strengthen our position as a national player. Hereby, we reaffirm our desire to expand our real estate portfolio with health care infrastructure in the Flemish, Walloon and Brussels- Capital Regions as well as elsewhere in Europe. After this investment, our Belgian real estate portfolio will contain 86 projects.
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 and group of assisted living apartments will be operated by Vulpia Wallonie asbl, through a long-term lease agreement of the triple net type for a period of 27 years.
With over 2280 staff members, a capacity of 3500 beds divided over 37 residences and 700 assisted living apartments throughout Belgium, Vulpia Care Group is one of the most significant national players in geriatric care. With a potential of over 2000 additional living units, they do not only strive to maintain their market position in the years to come, but also to further strengthen it. Vulpia is the fifth largest private operator in Belgium.
"Residence Bois de Bernihè" is located in the center of Libramont-Chevigny, just a few steps away from stores, banks, a cultural centre, a library and a hospital. Thanks to the building's slightly higher position, the south side enjoys a panorama view over the village and the other rooms face the surrounding green and wooded area, which can make for quite a spectacular view, especially in winter.
Not only is the residential care centre located on the main road of Libramont-Chevigny, the distance to the exit/access of the E411 highway is only about 5 kilometres. The aforementioned, combined with the proximity of several bus stops and the train station of Libramont, makes the residential care centre with group of assisted living apartments easy to reach by car, as well as by public transportation.
The project is a four-storey building, built in 2013, and houses a residential care centre with 95 rooms, accomodating 108 residents. One room is available for short-term stays. The 18 assisted living apartments can be found on the third storey of the building.
The residential care centre provides several services, including a in-house hairdresser's saloon, fresh and homemade meals prepared in the centre's own kitchen, daily visits from a pedicure, physical therapy and a wide range of activities.
Care Property Invest will acquire 100% of the shares of the company Siger SA. Siger SA possesses 100% of the shares of Dermedil SA, the owner of the property. The conventional value of this project is approximately 11.3 million euros. This price is largely based on and in line with the valuation of the real estate expert.
This purchase will be financed using external credit lines and the closing is expected to take place during the second quarter of 2017, after all suspensory conditions have been met.
Care Property Invest would like to reconfirm its desire to expand their real estate portfolio with health care infrastructure in the Flemish, Walloon and Brussels-Capital Regions as well as elsewhere in Europe.
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.
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.
Care Property Invest's share celebrated its 20th 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.
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