PRESS RELEASE
Free translation, the Dutch version prevails
REGULATED INFORMATION
INSIDE INFORMATION
Friday 14 October 2022
After trading hours - Under embargo until 17h45
CARE PROPERTY INVEST
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")
Care Property Invest signs agreement to acquire residential care centre in Ballinrobe (IE)
Schoten, Belgium - Friday 14 October 2022
Today, Care Property Invest signed the agreement under suspensory conditions for the acquisition of the existing and fully operational Irish residential care centre 'Friar's Lodge Nursing Home' in Ballinrobe (County Mayo). The project will accommodate 64 residents and has a total investment value of approximately € 8.4 million.
For the operation of Friar's Lodge Nursing Home, Care Property Invest will for the first time enter into a partnership with Brookhaven Healthcare, a local Irish healthcare operator with over 40 years of experience in running residential care centres. This will happen on the basis of a new long-term leasehold agreement of the 'triple net' type with a minimum duration of 25 years (renewable and annually indexable).
Peter Van Heukelom, CEO of Care Property Invest;
'The signing of this up-and-running residential care centre marks another step forward in Care Property Invest's Irish growth trajectory. In addition, we are pleased to further diversify our operator base in this market with the addition of this experienced healthcare operator. We currently have 6 effectively acquired residential care projects on Irish soil and aspire to further increase this number in the near future.'
Conor Murphy, Commercial Director of Brookhaven Healthcare
'Brookhaven is excited to partner with Care Property Invest for the first time as both parties continue their expansion in the Irish market. The Irish residential care sector continues to suffer from a shortage of residential care beds, a trend that has been exacerbated in recent times through the closure of small, regional care homes, and which is projected to worsen in the coming years given Ireland's demographics. Brookhaven looks forward to building a deep and trusted partnership with Care Property Invest as it continues its growth journey, with a particular focus on regional as well as urban opportunities.'
Care Property Invest nv/SA
Horstebaan 3 | T +32 3 222 94 94 |
2900 Schoten | E info@carepropertyinvest.be |
BE 0456 378 070 - LPR Antwerp | www.carepropertyinvest.be |
Public RREC under Belgian law |
The operator
Brookhaven Healthcare is the last remaining family-owned and family-managed independent healthcare provider in the Irish market with over 40 years of experience in running residential care centres. It currently operates 5 residential care centres throughout Ireland, totaling 408 beds, and is closely integrated into the communities it serves, offering both premium long-term and convalescence care. It is led by Chairman and CEO, Tim Murphy, and is headquartered in Malahide, Co. Dublin. With the addition of Friars Lodge Nursing Home to its growing portfolio, Brookhaven Healthcare will increase its capacity to 472 beds across 6 residential care centres. Brookhaven Healthcare's objective is to provide an enhanced quality of life to its residents by delivering an exceptional level of care as well as helping its residents to stay active and engaged with friends & families, recreational activities and their local communities.
Overview sheet
Friar's Lodge Nursing Home, co. Mayo - Ballinrobe
Date of signing: | 14 October 2022 | |
Address: | Convent Road, Cornaroya, Ballinrobe, Co. Mayo, Ireland | |
Operator: | Brookhaven Healthcare | |
Capacity: | Residential care centre with 64 residential places - existing residential care centre | |
61 rooms (58 single rooms and 3 double rooms) | ||
Project: | The residential care centre can accommodate 64 residents and is built entirely on the ground floor. The | |
building has a dining room, a kitchen, several visitor rooms, nursing stations and sitting rooms, a | ||
recreation and relaxation room, a chapel, a therapy room, a hairdresser's salon and a launderette. There | ||
is also a beautiful garden surrounding the residential care centre. | ||
Location: | on the edge of the town of Ballinrobe, the oldest town in County Mayo, close to several local | |
supermarkets and the post office. The Ballinrobe Primary Care Centre Hospital is 1.6 km away and the | ||
Sacred Heart Hospital Castlebar is approximately 30 km away. The town of Ballinrobe is known for its | ||
almost 100-year-old horse race track, the nearby large lake Lough Mask and the beautiful green | ||
surroundings. | ||
The project is easily accessible, both by car via the N84 and by public transport thanks to a bus stop | ||
nearby. | ||
Sustainability | Brookhaven Healthcare cares about sustainability and will implement an EMS in its buildings, closely | |
monitor its results and carry out the necessary improvement works where possible and if necessary. | ||
Current lighting will gradually be replaced by LED lighting. Thus, Brookhaven Healthcare will make | ||
every effort to ensure that its buildings meet today's sustainability standards. | ||
Year of construction/ | 2003/2004 | |
renovation: | ||
Transaction: | Asset Deal. | |
Type of contract: | New long-term leasehold agreement of the 'triple net' type with a minimum duration of 25 years | |
(renewable and annually indexable). | ||
Total investment value: | Approximately €8.4 million. | |
Financing: | Loan capital |
• • •
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, Ireland as well as elsewhere in the European Economic Area.
• • •
Caution regarding forecasts
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.
Care Property Invest nv/SA
Horstebaan 3 | T +32 3 222 94 94 |
2900 Schoten | F +32 3 222 94 95 |
BE 0456 378 070 - LPR Antwerp | E info@carepropertyinvest.be |
Public RREC under Belgian law | www.carepropertyinvest.be |
For any additional information, please contact:
Valérie Jonkers
COO -Executive director valerie.jonkers@carepropertyinvest.beT +32 3 222 94 94 - M +32 499 28 01 43 Horstebaan 3, 2900 Schoten info@carepropertyinvest.be www.carepropertyinvest.be
Stephanie Hoekstra
Investment Manager stephanie.hoekstra@carepropertyinvest.beT +32 3 222 94 94 - M +32 473 82 19 62 Horstebaan 3, 2900 Schoten info@carepropertyinvest.be www.carepropertyinvest.be
Peter Van Heukelom CEO- Executive director peter.vanheukelom@carepropertyinvest.beT +32 3 222 94 94 - M +32 495 59 82 67 Horstebaan 3, 2900 Schoten info@carepropertyinvest.be www.carepropertyinvest.be
Care Property Invest nv/SA
Horstebaan 3 | T +32 3 222 94 94 |
2900 Schoten | F +32 3 222 94 95 |
BE 0456 378 070 - LPR Antwerp | E info@carepropertyinvest.be |
Public RREC under Belgian law | www.carepropertyinvest.be |
About Care Property Invest
Care Property Invest NV/SA is a Public Regulated Real Estate Company (public RREC) under Belgian law. The Company has been listed on Euronext Brussels for over 25 years and invests in high quality healthcare real estate for elderly and disabled people on the European market. Care Property Invest purchases, builds and renovates high-quality healthcare real estate (residential care centres, groups of assisted living apartments, residential complexes for people with a disability, etc.), fully tailored to the needs of the end user and then makes it available to solid healthcare operators on the basis of a long-term contract.
The Company has developed an international portfolio of 142 healthcare projects, spread across Belgium, The Netherlands, Spain and Ireland.
The market capitalisation of Care Property Invest amounted to approximately €423 million on 13/10/2022. The Company aims to create a stable share for its shareholders with a low risk profile and a stable and steadily growing dividend.
Ticker:
ISIN Code:
Index listings:
EPRA
Website
CPINV
BE0974273055
- Belgium BEL Mid (Euronext Brussels)
- Euronext Real Estate (Euronext Brussels)
- GPR (Global Property Research) General Europe Index
-
GPR (Global Property Research) General Europe Quoted Index (excl. open-end bank funds) EPRA member since December 2016.
In September 2022, the Company received its sixth EPRA BPR Gold Award.
All further information can be found on our website, www.carepropertyinvest.be.
Care Property Invest nv/SA
Horstebaan 3 | T +32 3 222 94 94 |
2900 Schoten | F +32 3 222 94 95 |
BE 0456 378 070 - LPR Antwerp | E info@carepropertyinvest.be |
Public RREC under Belgian law | www.carepropertyinvest.be |
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Disclaimer
Care Property Invest NV published this content on 14 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2022 16:32:03 UTC.