AI assistant
Cofinimmo — Regulatory Filings 2017
Sep 4, 2017
3933_iss_2017-09-04_787f1d34-5185-437e-9fda-9a76a8e84d6f.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
PRESS RELEASE
REGULATED INFORMATION Brussels, embargo until 04.09.2017, 05:40 PM CET
New acquisition for Cofinimmo in Germany
On 01.09.2017 the Cofinimmo Group became owner of the nursing and care home Villa Sonnenmond in Neustadt im Westerwald (Rheinland-Palatinate – DE) for an amount of 6.1 million EUR. This acquisition brings the fair value of the entire German portfolio to 136 million EUR.
The establishment is leased to Convivo Holding GmbH, a specialised care services and accommodation provider for dependent elderly people, based in Bremen (DE) and managing already around twenty healthcare care facilities.
A 'double net'1 lease contract is concluded for 25 years and contains an option for an additional fiveyear extension. It will be indexed based on the German consumer price index. The initial rental yield amounts to 6.20 %.
The Villa Sonnenmond site covers an aboveground surface area of 2,940 m² and counts 71 beds, spread over three connected buildings. The main building was built in 1982 and served initially as a hotel. It was entirely renovated and reconverted into a nursing and care home in 1999. Two extensions were added afterwards, in 2007 and in 2012. The complex has been converted into a colourful interior village with lighted streets called 'Waldweg' ('Forest trail') or 'Westerwaldsteig' ('Westerwald trail'), small squares with trees and benches, a town hall, a post office, a hairdresser. This concept of 'a village in the building', where everything is built around the idea of memory, is particularly adapted for disoriented elderly people. It received the 'bpa2 -Quality Award' in 2009.
1 In Germany, 'double net' is often replaced by 'Dach & Fach'.
2 Bundesverband privater Anbieter sozialer Dienste (bpa) : the largest representation of interests of private social services providers in Germany.
REGULATED INFORMATION Brussels, embargo until 04.09.2017, 05:40 PM CET
PRESS RELEASE
For more information:
Ellen Grauls Benoît Mathieu Head of External Communication and Investor Relations Officer Investor Relations Tel.: +32 2 373 60 42 Tel.: +32 2 373 94 21 [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 3.4 billion EUR, representing a total surface area of over 1,810,000 m². Riding on demographic trends, its main investment segments are healthcare properties (45 %), offices (38 %) 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 130 people, operating from Brussels, Paris and Breda.
Cofinimmo is listed on Euronext Brussels (BEL 20) 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 30.06.2017, its total market capitalisation stands at 2.3 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.
Follow us on: