Icade — M&A Activity 2018

Mar 29, 2018

ACQUISITION OF 14 NURSING HOMES BY ICADE SANTÉ (€189M)

OFF-PLAN SALE OF AN OFFICE BUILDING BY ICADE PROMOTION (18,000 SQ.M FOR €95M)

Icade Santé: acquisition of a portfolio of 14 nursing homes for €189 million

Icade Santé is making its first investment in the nursing home sector through the acquisition of 14 health facilities, for €189 million, from the Residalya network, a subsidiary of the Ackermans & van Haaren Group. Residalya is also the operator of these nursing homes.

Residalya—the tenth largest for-profit private nursing home operator in France, with 34 facilities and over 2,650 beds—will remain the tenant and operator of these 14 sites, under new 12 -year leases with no break options. As a result, the group will be one of Icade's long-term partners.

The buildings are either new or recent and provide close to 1,300 inpatient and outpatient beds in Nouvelle-Aquitaine, Hauts-de-France, Auvergne-Rhône-Alpes and Provence-Alpes-Côte d'Azur.

The acquisition is expected to be completed in July 2018 once the conditions precedent have been fulfilled.

Through this transaction, Icade Santé is implementing its strategy to diversify into long-term care facilities. It is also reinforcing its position as the leader in healthcare real estate, with a post-acquisition portfolio of 114 assets for a total of more than €4.2 billion (excl. duties) and a post-acquisition annualised rental income of over €234 million1.

Icade Promotion: off-plan sale of an 18,000 sq.m office building in Villejuif for €95 million

Icade announces that, on March 29, 2018, it signed an off-plan sale agreement with SCPI Elysées Pierre, managed by HSBC REIM, for an 18,000 sq.m office building in Villejuif (Val-de-Marne) for €95 million (excl. duties).

After pre-letting this entire commercial development in February 2017 (9-year off-plan lease with no break option signed with Orange), Icade Promotion has thus sold this building scheduled for completion in Q4 2019.

Architects Lehoux Phily Samaha et Lahyani Selarl

The building was designed based on an eco-friendly approach ensuring respect for the natural environment and reduced energy consumption. It aims to obtain the best labels and certifications (Effinergie+,

¹ Based on data as of December 31, 2017 (on a 100% basis)

NF certification for commercial buildings – 2015 HQE approaches with a Sustainable Building Passport ranked Excellent, and BREEAM International New Construction 2016 ranked Excellent).

For this transaction, Icade was advised by Colliers International and the Thibierge notary's office and the buyer by the Allez et Associés notary's office.

ABOUT ICADE

Building for every future

As an investor and a developer, Icade is an integrated real estate player which designs innovative real estate products and services adapted to new urban lifestyles and habits. By placing corporate social responsibility and innovation at the core of its strategy, Icade is closely involved with stakeholders and users in the cities—local authorities and communities, companies and employees, institutions and associations… As a commercial and healthcare property investor (portfolio value of €10.8bn as of 12/31/17 on a proportionate consolidation basis) and as a property developer (2017 economic revenues of €1,209m), Icade has been able to reinvent the real estate business and foster the emergence of tomorrow's greener, smarter and more responsible cities. Icade is a significant player in the Greater Paris area and major French cities. Icade is listed on Euronext Paris as a French Listed Real Estate Investment Company (SIIC). Its leading shareholder is the Caisse des dépôts Group.

The text of this press release is available on the Icade website: www.icade.fr

CONTACTS

Guillaume Tessler, Head of financial communication and investor relations +33(0)1 41 57 71 61 guillaume.tessler@icade.fr

Charlotte Pajaud-Blanchard, Press relations manager +33(0)1 41 57 71 19

charlotte.pajaud-blanchard@icade.fr