Aedifica : Acquisition of a portfolio of 3 care homes in the United Kingdom - 14/01/2021

PRESS RELEASE

14 January 2021 - after closing of markets

Under embargo until 17:40 CET

AEDIFICA

Public limited liability company

Public regulated real estate company under Belgian law

Office: Rue Belliard 40 (box 11), 1040 Brussels Enterprise number: 0877.248.501 (RLE Brussels) (the 'Company')

Acquisition of a portfolio of 3 care homes

in the United Kingdom

• Acquisition of a portfolio of 3 purpose-built care homes in the United Kingdom
• • Total investment: approx. £40 million
  • Total capacity: 263 residents
  • Initial net rental yield: approx. 5.5 %
  • Operator: Excelcare

Abbot Care Home - Harlow

Stefaan Gielens, CEO of Aedifica, commented: "We are very pleased to announce that Aedifica continues the expansion of its healthcare real estate portfolio in the United Kingdom with the acquisition of 3 fully operational care homes for approx. £40 million. The purpose-built properties comprise 263 en- suite bedrooms for seniors requiring continuous care and offer good care quality ratings. They are operated by Excelcare, marking a new collaboration between Aedifica and an established elderly care home provider."

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PRESS RELEASE

14 January 2021 - after closing of markets

Under embargo until 17:40 CET

Aedifica invests approx. £40 million in a portfolio of 3 fully operational purpose-built care homes in the United Kingdom.

St Fillans Care Home - Colchester

Description of the sites

The three care homes of this portfolio are conveniently located in residential areas of cities in Essex, East of England (Harlow, 90,000 inhabitants; Saffron Walden, 16,000 inhabitants; Colchester, 112,000 inhabitants). Constructed between 2010 and 2016, the properties are all modern, purpose-built care homes with single bedrooms offering en-suite facilities that are specifically tailored to suit the needs of elderly people requiring continuous care. The care homes accommodate up to 263 residents. All three properties offer good care quality ratings.

Name	Location	Year of	Capacity	Operator
		build	(units)
Abbot Care Home (1)	Partridge Road in Harlow, CM18 6TD	2016	117	Excelcare
Stanley Wilson Lodge Care Home (2)	Four Acres in Saffron Walden, CB11 3JE	2010	75	Excelcare
St Fillans Care Home (3)	St Fillan Road in Colchester, CO4 0PT	2012	71	Excelcare
Total			263

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PRESS RELEASE

14 January 2021 - after closing of markets

Under embargo until 17:40 CET

Stanley Wilson Lodge Care Home - Saffron Walden

Description of the transaction

On 14 January 2021, Aedifica UK Ltd (a UK subsidiary of Aedifica NV/SA) acquired ownership of the three sites. The total contractual value1 of the three care homes amounts to approx. £40 million.

Description of the operator and the leases

The care homes are operated by Excelcare, a family-owned company with more than 30 years of experience in the UK elderly care sector. Excelcare provides high quality residential care in more than 30 care properties in the south and east of England to over 1,900 elderly people who are no longer able to live independently at home. The company has experience not only in operating care homes but also in developing them.

Aedifica welcomes this new partnership with an established, reputable player in the UK elderly care sector.

The care homes are let on the basis of new irrevocable 30-year triple net leases. The initial net rental yield amounts to approx. 5.5%.

1 The contractual value complies with the provisions of article 49 § 1 of the Belgian Act of 12 May 2014 on regulated real estate companies.

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PRESS RELEASE

14 January 2021 - after closing of markets

Under embargo until 17:40 CET

Investments since the October 2020 capital increase

On 27 October 2020, Aedifica successfully completed a €459 million capital increase, the largest ever in the history of the Belgian RREC sector. The investments made by the Group following the capital increase are listed in the table below2.

(in € million)	Date	Location	Investments	Pipeline 1	Total
				carried out
BE	Le Jardin Intérieur	30/10/2020	Frasnes-lez-	22	-	22
			Anvaing
FI	Portfolio of 7 healthcare sites	10/12/2020	Finland	27	-	27
NL	Joint venture with Korian: Lelystad, Soest, Woudenberg,	10/12/2020	Netherlands	6	11	17
	Hengelo (50/50)
UK	Development project in Chard 3	15/12/2020	Chard	-	14	14
DE	Specht Gruppe: Cuxhaven, Gera, Gummersbach & Schwerin 2	16/12/2020	Germany	4	66	70
BE	De Gouden Jaren	17/12/2020	Tienen	8	-	8
FI	Portfolio of 10 healthcare sites	17/12/2020	Finland	82	-	82
NL	OZC Orion	17/12/2020	Leiderdorp	6	-	6
NL	Redevelopment project in Zwolle	17/12/2020	Zwolle	8	-	8
NL	Pachterserf	17/12/2020	Apeldoorn	8	-	8
NL	Care campus Uden	24/12/2020	Uden	20	-	20
UK	Portfolio of 3 care homes	14/01/2021	United	45	-	45
			Kingdom
Total as of 14 January 2021			235	92	327

1. The pipeline includes development projects and acquisitions subject to outstanding conditions.
2. Completions of previously concluded agreements.
3. Amounts in £ were converted into € based on the exchange rate of the transaction date.

2 The figures in this table are rounded amounts. Subsequently, the sum of certain figures might not correspond to the stated total.

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