1. Homepage
  2. Equities
  3. Belgium
  4. Euronext Bruxelles
  5. Cofinimmo
  6. News
  7. Summary
    COFB   BE0003593044

COFINIMMO

(COFB)
  Report
Real-time Euronext Bruxelles  -  03:33 2022-08-15 am EDT
110.80 EUR    0.00%
08/11COFINIMMO : Transparency notification BlackRock
PU
08/05COFINIMMO : will acquire a nursing and care home in Germany
PU
08/05Cofinimmo SA signed an agreement to acquire A nursing and care home in Germany from Schönes Leben Gruppe GmbH & Co. KG for EUR 18 million.
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Cofinimmo : will acquire a new nursing and care home in Madrid

07/06/2022 | 11:54am EDT

PRESS RELEASE

Brussels, embargo until 06.07.2022, 5:40 p.m. CET

Cofinimmo will acquire a new nursing and care home in Madrid

Cofinimmo (Euronext Brussels: COFB) will acquire 100% of the shares of the company that is currently developing a nursing and care home in Legazpi, in the autonomous community of Madrid. The investment amounts to approximately 12 million EUR. The site is pre-let to Emera España, a major operator in Spain.

Jean-PierreHanin, CEO of Cofinimmo: "With this new nursing and care home in Madrid, we continue to actively participate in the expansion and renewal of the healthcare property portfolio in Europe in general, and in Spain in particular. It also enables us to initiate a partnership with Emera España, a major operator in the country."

1

PRESS RELEASE

Brussels, embargo until 06.07.2022, 5:40 p.m. CET

1. The site

The new nursing and care home is situated in Legazpi, a neighbourhood in the district of Arganzuela, in the autonomous community of Madrid, whose population exceeds 7 million inhabitants.

The building will have a total surface area of approximately 4,300 m². It will offer 113 beds.

The site will be easily accessible thanks to several road connections as well as the proximity of several bus stops. The patio will also offer a nice garden for the residents. The building will have a good energy performance. Photovoltaic panels as well as thermal solar panels will be installed to produce electricity and warm water, which will help improve the energy intensity of the building and provide it at least a B-level energy label.

2. The transaction

Cofinimmo will acquire, through a subsidiary, 100% of the shares of the company that is currently developing the above-mentioned nursing and care home in Madrid. The investment amounts to approximately 12 million EUR.

Works started in May 2021, within the framework of a turnkey project, and the delivery of the nursing and care home is currently scheduled for Q4 2022. At that time, the acquisition price will be paid and the lease will start.

This investment can be allocated to the hypothetical investment envelop included in the investment estimate for 2022, as published in section 11.1 of the press release dated 29.04.2022.

A triple-net1 lease with a term of 12 years has been signed with the operator Emera España. The rent will be indexed according to the Spanish consumer price index. The gross rental yield is in line with current market conditions.

3. The operator-tenant

Founded in 1987, the Emera Group has been managing nursing and care homes in France, Switzerland, Belgium, Luxembourg, Spain and Ireland for more than 30 years. It manages more than 80 nursing and care homes and nearly 9,400 beds, with an average of 90 to 100 beds per facility.

Today, Emera España consists of nursing and care homes offering approximately 2,000 places in nine autonomous communities in Spain, as well as various projects in different stages of development.

1 Insurances, taxes and maintenance are born by the tenant.

2

PRESS RELEASE

Brussels, embargo until 06.07.2022, 5:40 p.m. CET

For more information:

Philippe Etienne

Lynn Nachtergaele

Yeliz Bicici

Head of External Communication

Head of Investor Relations

Chief Operating Officer

Tel.: +32 2 373 60 32

Tel.: +32 2 777 14 08

Offices & Real Estate Development

petienne@cofinimmo.be

lnachtergaele@cofinimmo.be

Tel.: +32 2 373 00 00

About Cofinimmo:

Cofinimmo has been acquiring, developing and managing rental properties for almost 40 years. The company has a portfolio spread across Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland, Italy and the United Kingdom with a value of approximately 5.9 billion EUR. Responding to societal changes, Cofinimmo's mission is to provide high- quality care, living, and working spaces to partner-tenants for their occupants to enjoy. 'Caring, Living and Working - Together in Real Estate' is the expression of this mission. Thanks to its expertise, Cofinimmo has assembled a healthcare real estate portfolio of approximately 4.0 billion EUR in Europe.

As an independent company that applies the highest standards of corporate governance and sustainability, Cofinimmo offers its tenants services and manages its portfolio through a team of approximately 150 employees in Brussels, Paris, Breda, Frankfurt and Madrid.

Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the REIT system in Belgium (RREC), France (SIIC) and the Netherlands (FBI). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator.

On 30.06.2022, Cofinimmo's total market capitalisation was approximately 3.3 billion EUR. The company applies an investment policy aimed at offering a socially responsible, long-term,low-risk investment that generates a regular, predictable and growing dividend.

www.cofinimmo.com

Follow us on:

3

Disclaimer

Cofinimmo SA published this content on 06 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 July 2022 15:53:02 UTC.


© Publicnow 2022
All news about COFINIMMO
08/11COFINIMMO : Transparency notification BlackRock
PU
08/05COFINIMMO : will acquire a nursing and care home in Germany
PU
08/05Cofinimmo SA signed an agreement to acquire A nursing and care home in Germany from Sch..
CI
08/01COFINIMMO : Repurchase of treasury shares
PU
08/01COFINIMMO : Share buyback
CO
07/29TRANSCRIPT : Cofinimmo SA, H1 2022 Earnings Call, Jul 29, 2022
CI
07/29Cofinimmo SA Reports Earnings Results for the Half Year Ended June 30, 2022
CI
07/29COFINIMMO : Calculation details of the Alternative Performance Measures at 30.06.2022
PU
07/29COFINIMMO : 2022 Half-Year Financial Report
PU
07/29COFINIMMO : 2022 Half-year financial report
PU
More news
Analyst Recommendations on COFINIMMO
More recommendations
Financials
Sales 2022 324 M 332 M 332 M
Net income 2022 406 M 416 M 416 M
Net Debt 2022 2 775 M 2 845 M 2 845 M
P/E ratio 2022 9,13x
Yield 2022 5,59%
Capitalization 3 570 M 3 660 M 3 660 M
EV / Sales 2022 19,6x
EV / Sales 2023 18,4x
Nbr of Employees 150
Free-Float 93,7%
Chart COFINIMMO
Duration : Period :
Cofinimmo Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COFINIMMO
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 110,80 €
Average target price 138,18 €
Spread / Average Target 24,7%
EPS Revisions
Managers and Directors
Jean-Pierre Hanin Chief Executive Officer & Executive Director
Jean Kotarakos Chief Financial Officer & Director
Jacques van Rijckevorsel Chairman
Steve Deraedt Head-Information Technology
Yeliz Bicici Head-Development
Sector and Competitors
1st jan.Capi. (M$)
COFINIMMO-21.14%3 660
EQUINIX, INC.-16.70%64 168
REALTY INCOME CORPORATION4.30%46 115
DIGITAL REALTY TRUST, INC.-25.70%37 771
ALEXANDRIA REAL ESTATE EQUITIES, INC.-23.71%27 753
W. P. CAREY INC.7.11%16 953