M&A Activity • Dec 28, 2020
M&A Activity
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Free translation, the Dutch version prevails
REGULATED INFORMATION 28 December 2020 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 December 2020
Care Property Invest announces the acquisition and redevelopment of 'Mariënhaven' in Warmond (Teylingen), a former monastery that will be transformed into a modern care residence. 'Mariënhaven' is the 16th project effectively acquired by the Company on the Dutch market, this time through its Dutch subsidiary Care Property Invest.NL3 B.V.. The project will have a total capacity of 41 residential units, divided into 22 care studios and 19 rehabilitation rooms.
Today, the Company acquired both the land and the monastery through its Dutch subsidiary, Care Property Invest.NL3, a 100% subsidiary of Care Property Invest. Simultaneously, the Company also entered into a separate turnkey agreement with a subsidiary of the developer Verdouw Advies B.V., for the redevelopment of the building, based on an extensive program of requirements and guidelines agreed upon between Care Property Invest.NL3 B.V. and the future operator of this care residence, being a subsidiary of Valuas Zorggroep. The provisional delivery of the project is expected in the first half of 2022.
'Mariënhaven' will be operated by a subsidiary of Valuas Zorggroep on the basis of new long-term rental agreement of the 'triple net' type with a minimum duration of 20 years (renewable), which will be indexed annually.
The total investment value for this project is estimated to be approximately €11.6 million.
'With the acquisition and redevelopment of this former monastery, we are continuing to expand our healthcare real estate portfolio which, including this project, now comprises 127 projects, 16 of which are located in The Netherlands. We are pleased to join forces with Valuas Zorggroep for no less than the 7th time. With this purchase we are confirming our positive outlook on the healthcare real estate market, in the shadow of these special times.'
Since 2011, Valuas Zorggroep has specialised in small-scale and innovative residential care concepts in elderly care. Its ambition is to continue to grow as a highly valued, small-scale residential care provider for vulnerable and care-dependent elderly people, in which the quality of its services is always of the utmost importance. It strives to express this quality in all aspects of residential housing. Valuas Zorggroep currently operates 9 projects and has a number of them under development.
| Warmond - 'Mariënhaven' | ||
|---|---|---|
| ADDRESS: | Mgr. Aengenentlaan 1, 2361 GB Warmond (Teylingen), The Netherlands | |
| CAPACITY: | Care residence with 41 residential units (22 care studios and 19 rehabilitation rooms) | |
| OPERATOR: | Valuas Zorggroep | |
| · LOCATION: | In Teylingen, only 400m away from the village centre of Warmond, where shops, supermarkets and restaurants are located. The project is easily accessible by car via the A44 (Maaldrift - Abbenes) and the N444 (Noordwijk - Poelgeest), as well as by public transport thanks to a bus stop 400m away. |
|
| DESCRIPTION PROPERTY AND FACILITIES: |
The building consists of 4 levels and, after renovation, will have a total capacity of 41 residential units, divided into 22 care studios and 19 rehabilitation rooms. All units will have a separate bedroom and bathroom. Residents will be able to enjoy a garden with a sunny terrace at the front of the building. |
|
| • YEAR OF CONSTRUCTION / RENOVATION: |
Provisional delivery is expected in the 1st half of 2022. | |
| CONTRACT TYPE: | New long-term leasehold agreement of the 'triple net' type with a minimum duration of 20 years (renewable and annually indexable). |
|
| · INVESTMENT VALUE: | $£11.6$ million. | |
| · TRANSACTION: | Asset deal: acquisition of land and buildings through its Dutch subsidiary Care Property Invest.NL3, and separate turnkey agreement with the developer for the redevelopment of this care residence. |
|
| · FINANCING: | Debt financing. |
• • • Care Property Invest would like to reconfirm its desire to expand its real estate portfolio in the future with health care infrastructure in Belgium, The Netherlands, Spain, as well as elsewhere in the European Economic Area.
• • •
Care Property Invest NV/SA Horstebaan 3 2900 Schoten BE 0456 378 070 - LPR Antwerp Public RREC under Belgian law
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 COO –Executive director [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
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 CEO– Executive 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
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 celebrates its 24th 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 is a constituent of the Belgium Bel Mid Index and the Company has become a member of EPRA.
In September 2020, the Company received its fourth EPRA BPR Gold Award. As from 1 November 2019, the share is also a constituent of the Euronext Next 150 Index.
All further information regarding the Company can be found on our website, www.carepropertyinvest.be. Here we will keep you informed on a dedicated page about the (possible) impact of the COVID-19 epidemic on the business activities of Care Property Invest.
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