Cofinimmo: will build a new nursing and care home in Elche (Spain)

PRESS RELEASE

Brussels, embargo until 17.02.2022, 5.40 p.m. CET

Cofinimmo will build a new nursing and care home in Elche (Spain)

Cofinimmo (Euronext Brussels: COFB) has acquired land in the autonomous community of Valencia. The site will see the construction of a new rest and care home. The investment budget (including land and works) amounts to approximately 8 million euros. The site is pre-let to Grupo Casaverde, one of the main operators of neurological rehabilitation as well as care and well-being for dependent elderly people in Spain.

Jean PierreHanin, CEO of Cofinimmo: “With this new development project, Cofinimmo continues to participate actively in the expansion and renewal of the healthcare real estate portfolio in Europe. It also allows us to enter into a partnership with Grupo Casaverde, a major player in the management of dependent elderly people in Spain.”

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PRESS RELEASE

Brussels, embargo until 17.02.2022, 5.40 p.m. CET

1. The site

The new rest and care home will be located in Elche, in the province of Alicante and the autonomous community of Valencia. With a population of over 230,000, Elche is the second largest city in the province and the third largest city in the autonomous community.

The complex will be located close to downtown Elche and the El Palmeral municipal park. It will be easily accessible by public transport. The new nursing and care home will also play an important role in the region as it will help meet the growing need for care facilities for dependent elderly people in the province of Alicante.

After the works, the site will offer an area of ​​around 6,000 m² and around 150 beds spread over a ground floor and 4 upper floors. The rest and care home will have more than 80% single rooms which will be divided into co-living units. The entire building is designed for the well-being of residents. With this building, Cofinimmo is aiming for level A energy performance.

2. The transaction

Cofinimmo has acquired, through a subsidiary, land in the province of Alicante. The site will see the construction of the aforementioned rest and care home. The investment budget (including land and works) amounts to approximately 8 million euros.

Construction work will start soon as part of a turnkey project, and the delivery of the new nursing and care home is currently scheduled for the fourth quarter of 2023.

The amounts corresponding to the construction work will be paid according to the progress of the work.

A triple fillet1 lease was concluded with the operator Grupo Casaverde for a period of 25 years. The rent will be indexed annually according to the Spanish consumer price index. The gross rental yield is in line with current market conditions.

3. The operator-tenant

Grupo Casaverde is one of the main players in neurological rehabilitation as well as in the care and well-being of dependent elderly people in Spain. Grupo Casaverde works under 4 clearly differentiated lines: (i) neurological rehabilitation hospitals; (ii) rest and care homes; (ii) housing for functional diversity; (iv) home care.

The establishments of Casaverde have nursing care, daily specialized medical assistance and multidisciplinary treatments provided by a team of psychologists, physiotherapists, social workers, nursing assistants, speech therapists and occupational therapists.

In Spain, the group operates 16 establishments where more than 800 professionals take care of more than 1,900 people, whether they are residents or patients in physical and neurological rehabilitation.

1 Insurance, taxes and maintenance are the responsibility of the tenant.

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PRESS RELEASE

Brussels, embargo until 17.02.2022, 5.40 p.m. CET

For more information:

Philippe Etienne

Lynn Nachtergaele

Yeliz Bicici

External Communication Manager

Head of Investor Relations

CEO

Phone. : +32 2 373 60 32

Phone. : +32 2 777 14 08

Offices & Property Development

[email protected]

[email protected]

Phone. : +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 split between Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland, Italy and the United Kingdom, worth around 5 .6 billion euros. Attentive to social developments, Cofinimmo’s mission is to provide its partner-tenants with quality healthcare, living and working environments, from which the users benefit directly. “Care, live and work – together in real estate” is the expression of this mission. Thanks to its expertise, Cofinimmo has built up a healthcare real estate portfolio of around EUR 3.6 billion in Europe.

As an independent company applying the highest standards of corporate governance and sustainable development, Cofinimmo offers its tenants services and manages its portfolio thanks to a team of approximately 145 employees in Brussels, Paris, Breda, Frankfurt and Madrid.

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

As at 31.01.2022, the total market capitalization of Cofinimmo amounted to approximately 4.1 billion EUR. The company applies an investment policy aimed at offering socially responsible, long-term, low-risk investment that generates a regular, predictable and growing dividend.

www.cofinimmo.com

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