M&A Activity • Oct 2, 2018
M&A Activity
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Free translation, the Dutch version prevails
REGULATED INFORMATION 2 October 2018 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 – 2 October 2018
Care Property Invest announces the acquisition of the residential care centre with group of assisted living apartments 'Ter Meeuwen' in Meeuwen-Gruitrode, Limburg, by acquiring 100% of the shares in De Meeuwen bvba, the company that owns the real estate of this project.
The residential care centre has a capacity of 81 residential places, including a rehabilitation centre that can accommodate up to 21 people. The group of assisted living apartments in turn consists of 20 residential units. Both the residential care centre and the group of assisted living apartments are operated by Armonea nv on the basis of a long-term leasehold agreement that has been in force since mid-2015.
For the residents it is an ideal base: the project is located right in the centre of Meeuwen-Gruitrode, just a 200-metre walk from restaurants, shops and supermarkets.
The conventional value of this project is approximately €14.8 million.
'With the acquisition of 'Ter Meeuwen', we are entering into a fourth partnership with the healthcare operator Armonea, a significant player on the Belgian market. After the acquisition of our first care residence in The Netherlands a few days ago, this brings the total number of residential care projects in our portfolio to 98.'
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 residential care centre and the group of assisted living apartments are operated by Armonea nv on the basis of a long-term leasehold agreement of the 'triple net' type (which can be indexed and renewed annually).
Armonea is the largest independent care provider for the elderly in Belgium and is one of the top ten healthcare operators in Europe in terms of size. In 86 residential care centres and (groups of) assisted living apartments throughout Belgium, in 35 residential care centres in Spain and in 17 residential care centres and 29 day centres in Germany, more than 15,000 elderly people feel at home every day thanks to 9,800 motivated employees.
The residential care centre and the group of assisted living apartments 'Ter Meeuwen' are located right in the centre of the municipality of Meeuwen-Gruitrode, just 200 metres away from cafes, restaurants, supermarkets, banks, a pharmacy and the town hall. Opposite the residential care centre is a small park where residents can take a stroll and enjoy the green environment. In addition, several hospitals are located within a radius of 20 kilometres. The project can be reached by car via the E314 highway and the N76 and N719 connecting roads. The bus stop in the direction of Genk and Neerpelt is located at the end of the street where 'Ter Meeuwen' is located. Less mobile residents can call on the Minder Mobielen Centrale and get to their destination with a volunteer.
The residential care centre can accommodate up to 81 residents, 21 of whom are temporary residents of the rehabilitation centre. Residents with dementia are also welcome here in the protected department, where a specialised team ensures the appropriate support. The rooms in the residential care centre are spacious and comfortably equipped. Visitors can be entertained in the cafeteria, in the living areas, on the terrace or in the courtyard garden. These last two are shared with the residents of the adjacent group of assisted living apartments, which makes it a pleasant meeting place.
The group of assisted living apartments consists of 20 residential units, each of which has a private balcony with a view of the park or the quiet courtyard.
Care Property Invest acquired all the shares in De Meeuwen bvba, the company that owns the real estate of this project. The conventional value of this property is approximately € 14.8 million. This value is largely based on and is in line with the valuation of the real estate expert. The project was fully financed with loan capital, i.e. the issuance of commercial paper.
• • • Care Property Invest would like to reconfirm its desire to expand its real estate portfolio in the future with healthcare infrastructure in Belgium, The Netherlands as well as elsewhere in the European Economic Area. • • •
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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.
For any additional information, please contact:
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
Alexander Watson Investment Manager [email protected] T +32 3 222 94 94 - F +32 3 222 94 95 - M +32 495 21 42 21 Horstebaan 3 2900 Schoten [email protected] www.carepropertyinvest.be
Peter Van Heukelom Chief Executive Officer [email protected] T +32 3 222 94 94 - F +32 3 222 94 95 - M +32 459 59 82 67 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 22nd anniversary 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 2018, the Company received its second EPRA BPR Gold Award.
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