Cofinimmo redevelops the Zonneweelde nursing and care home in Rijmenam (BE)

Cofinimmo supports its operator-tenant Senior Living Group (Korian Group) in the reorganisation of the Zonneweelde nursing and care home in Rijmenam, for which the necessary permits were obtained. Works will start during the third quarter of 2017.

The project will be executed in two phases. During the first phase, an extension will be built on a newly acquired plot, adjacent to the existing site.

During the second phase, the existing building will be partially demolished and rebuilt. Between both phases, the residents will move to the newly built extension. The end of all works is scheduled for the end of 2020.

Phase 1

Zonneweelde - Rijmenam (BE) - existing situation

The total surface of the Zonneweelde nursing and care home will amount to 17,100 m² after redevelopment, i.e a 5,577 m² surface increase.

The acquisition price of the adjacent plot and the estimated budget for the redevelopment works represent together 16 million EUR.

Phase 2

Zonneweelde - Rijmenam (BE) - future situation after works

This is the third partnership agreement in a row between Cofinimmo and Senior Living Group in one year. Cofinimmo already signed an agreement for the renovation and extension of two other nursing and care homes managed by the same operator: Zonnewende in Aartselaar and De Nootelaer in Keerbergen.

Both sites are currently under construction and the works will be finished respectively in the first and fourth quarter of 2018. In total, Cofinimmo will invest 25 million EUR for the three projects.

The partnership between Cofinimmo and Senior Living Group will further be strengthened by the signature of long-term leases (20 and 27 years) at delivery of the works. These 'triple net' contracts will be yearly indexed.

Jean-Edouard Carbonnelle, Chief Executive Officer : « These redevelopment projects are part of our mission to support healthcare operators in their growth. Our teams help them to renovate and extend their housing stock in order to meet current and future housing and care needs » For more information: Ellen Grauls Benoît Mathieu

Head of External Communication and Investor Relations Officer Investor Relations

Tel.: +32 2 373 94 21 Tel.: +32 2 373 60 42

egrauls@cofinimmo.be bmathieu@cofinimmo.be

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 1,802,000 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 31.03.2017, 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.

www.cofinimmo.com

Follow us on:

Cofinimmo SA published this content on 04 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 July 2017 15:49:03 UTC.

Original documenthttp://www.cofinimmo.be/media/3162/170704_extensions-slg_uk.pdf

Public permalinkhttp://www.publicnow.com/view/45E67C1EF9BAB56A59979AC6E871DD9593E01B80