ICADE SANTE (EPA:ICSAA) ICADE'S HEALTHCARE PROPERTY PORTFOLIO FURTHER GROWS WITH €100M IN NEW INVESTMENTS IN ITALY AND FRANCE

Transparency directive : regulatory news

11/10/2021 07:30

PRESS RELEASE

Paris, October 11, 2021, 7:30 a.m.

ICADE'S HEALTHCARE PROPERTY PORTFOLIO FURTHER GROWS IN ITALY AND FRANCE WITH
EUR100M IN NEW INVESTMENTS

In Italy: Acquisition of four nursing homes and one psychiatric facility for
EUR36m

Icade's healthcare property investment division(1) signed on October 6, 2021
the acquisition of a real estate portfolio of four nursing homes(2) (Residenze
Sanitarie Assistenziali, RSA) and one psychiatric facility, for a total amount
of EUR36m including duties.

This portfolio acquisition is part of a sale and leaseback transaction with the
operator La Villa(3). The five facilities, located in the regions of Aosta
Valley, Tuscany, Emilia-Romagna, Piedmont and Lombardy, total 493 beds and will
be operated by La Villa Group with lease terms of 30 years with no break
option.

Domus Pacis (RSA) - Aosta Valley, Italy

Giotto (RSA) - Tuscany, Italy

San Giuseppe (RSA) - Emilia-Romagna, Italy

Le Terrazze (RSA) - Piedmont, Italy

(1) Via Icade Healthcare Europe, a vehicle 59% owned by Icade S.A. dedicated to
international healthcare property investments / Acquisition via its Italian
fund.
(2) Giotto and Domus Pacis under preliminary agreements should be acquired by
end of October after having obtained all required administrative
authorisations.
(3) Acquisition from three separate sellers including Edos S.r.l., a subsidiary
of Eukedos S.P.A. which is an Italian listed company controlled by La Villa
Group.

All of the acquired assets will generate immediate cash flows.

This transaction is the first with La Villa Group, the Italian subsidiary of
French group Maisons de Famille. Specialised in elderly and also psychiatric
care, La Villa Group is a leading operator in this segment in Italy where it
currently operates 43 facilities (around 3,400 beds).

This transaction brings to 21 the number of operating facilities owned by Icade
Santé in Italy where the portfolio value represents c.EUR150m.

In France: Preliminary agreement to acquire five healthcare properties for
EUR64m

On October 8, 2021, Icade Santé signed a preliminary agreement with a French
investor to acquire a portfolio of five assets operated by Korian and located
in France for a total of EUR64.1m including duties.

The portfolio consists of four nursing homes in Paris (14th district),
Noisy-le-Grand (Seine-Saint-Denis), Grainville-sur-Odon (Calvados) and
Vaivre-et-Montoille (Haute-Saône), in addition to a psychiatric facility in
Barbazan-Debat (Hautes-Pyrénées). Totalling close to 17,000 sq.m, the
properties have a capacity of 396 beds and places.

Korian operates these facilities. The acquisition will be completed end of 2021
once the customary conditions precedent have been satisfied. These five assets
will start generating rental income immediately.

Reine Mathilde nursing home, Grainville-sur-Odon (Calvados)

Le Lac nursing home, Vaivre-et-Montoille (Haute-Saône)

Villa Victoria nursing home, Noisy-le-Grand (Seine-Saint-Denis)

Jardins d'Alésia nursing home, avenue du Maine, Paris (14th district)

Piétat psychiatric facility, Barbazan-Debat (Hautes-Pyrénées)

The acquisition of this portfolio will bring the number of assets hold(4) by
Icade Santé and operated by Korian to 28 and reinforce the long-term
partnership with this operator.

As of September 30, 2021, the healthcare property investment division's
portfolio totalled 188 properties, including 145 in France and 43 located in
other countries(5).

To date, cumulated investments of the healthcare property investment division
for 2021 amount to nearly EUR400m(6).

ABOUT ICADE
DESIRABLE PLACES TO LIVE

As an office and healthcare property investment company (portfolio worth
EUR14.8bn on a full consolidation basis as of 06/30/2021) and a developer of
homes, offices and public amenities (2020 economic revenue of EUR825m), Icade
designs, builds, manages and invests in cities, neighbourhoods and buildings
that are innovative, diverse, inclusive and connected, with a reduced carbon
footprint. Desirable places to live and work. In collaboration with its
stakeholders, Icade has made low carbon a strategic priority in order to
reinvent real estate and create cities that are healthier, happier and more
hospitable. Icade is a key player in Greater Paris and major French cities. It
is listed as a "SIIC" on Euronext Paris and its leading shareholder is the
Caisse des Dépôts group.

ABOUT ICADE SANTÉ
PLACES THAT CARE FOR PEOPLE

Icade Santé* is a European leader in healthcare real estate dedicated to
helping healthcare and senior services providers successfully execute their
sale-and-leaseback and property development strategies. The Group's teams have
wide-ranging expertise in real estate investment, complex project management
and in-depth knowledge of the challenges facing the healthcare sector. As of
June 30, 2021, Icade's healthcare property investment division owned 183
properties (France and international), representing assets worth EUR6.0 billion
(EUR6.4 billion, including duties) and a total leasable floor area of around
2.04 million sq.m.

Icade and Icade Santé are rated BBB+ with a stable outlook by the rating
agency S&P.

The text of this press release is available on the Icade website: www.icade.fr
and on the Icade Santé website: https://icade-sante.eu.

CONTACTS

Charlotte Pajaud-Blanchard,
Press Relations Manager
+33 (0)1 41 57 71 19
charlotte.pajaud-blanchard@icade.fr

Anne-Sophie Lanaute
Head of Financial Communication and Investor Relations
+33 (0)1 41 57 70 29
anne-sophie.lanaute@icade.fr

(4) Of which 3 assets under development (included in the pipeline), as part of
the partnership agreement signed with Korian in 2017
(5) 198 properties to date (of which 150 in France and 48 in other countries)
including the acquisitions mentioned in this press release
(6) including EUR121m under preliminary agreement
* Combining IHE's and Icade Santé's legal entities

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13/03/2023 20:15

ICADE SANTE (EPA:ICSAA) ICADE'S HEALTHCARE PROPERTY PORTFOLIO FURTHER GROWS WITH €100M IN NEW INVESTMENTS IN ITALY AND FRANCE

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