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Cofinimmo — M&A Activity 2015
Dec 16, 2015
3933_iss_2015-12-16_cc440b96-6000-4237-bb3d-c14fd7a231be.pdf
M&A Activity
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REGULATED INFORMATION Brussels, embargo until 16.12.2015, 05:40 PM CET
Cofinimmo acquires a rehabilitation clinic in Bonn, Germany, for 30.0 million EUR
Cofinimmo pursues its growth in the healthcare real estate sector in Germany through the acquisition of the Kaiser Karl rehabilitation clinic located in Bonn1 . This 15,500 m² facility, built in 1996 and extended in 2013, is mainly specialized in orthopedics and offers 150 beds, a swimming pool, a spa, a restaurant, as well as underground parking spaces.
The Cofinimmo Group bought the asset for 30.0 million EUR2 and rents it to a subsidiary of the German operating group Eifelhöhen-Klinik AG under a 25-year 'double net' lease. The rent will be indexed every three years, upwards only. The gross initial rental yield stands at 7.32 %.
Eifelhöhen-Klinik AG is a German listed operator with over 40 years of experience in post acute care and rehabilitation. The Group manages four sites, offering a total of 800 beds. Its growth ambitions could lead to other opportunities for Cofinimmo.
This acquisition is in line with Cofinimmo's strategy, which consists in expanding its healthcare portfolio, while also diversifying it by country, by tenant/operator and by medical specialty. It comes on top of the 250 million EUR pipeline of committed investments for the period 01.07.2015 – 31.12.2017 which Cofinimmo announced in April 2015 at the time of its capital increase.
1 Acquisition subject to administrative conditions precedent.
2 Including acquisition costs (transfer taxes, etc.) of 2.5 million EUR.
REGULATED INFORMATION Brussels, embargo until 16.12.2015, 05:40 PM CET
For more information:
Valerie Kibieta Ellen Grauls Head of External Communication and Investor Relations Manager Investor Relations Tel.: +32 2 373 94 21 Tel.: +32 2 373 60 36 [email protected] [email protected]
About Cofinimmo:
Founded in 1983, Cofinimmo is today the foremost listed Belgian real estate company specialising in rental property and an important player in the European market.
The company owns a diversified property portfolio spread over Belgium, France, the Netherlands and Germany, worth over 3.3 billion EUR, representing a total surface area of 1,800,000m². Riding on demographic trends, its main investment segments are healthcare properties (44 %), offices (39 %) and distribution networks (16 %). As an independent company that consistently applies the highest corporate governance and sustainability standards, Cofinimmo services its tenants and manages its properties through its team of over 110 people, operating from Brussels.
Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the fiscal REIT regime in Belgium (RREC), in France (SIIC) and in the Netherlands (FBI). Its activities are controlled by the Financial Services and Markets Authority, the Belgian regulator.
At 30.09.2015, its total market capitalisation stands at 2.0 billion EUR. The company pursues investment policies which seek to offer a high dividend yield and capital protection over the long term, targeting both institutional and private investors.
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