ICADE SANTE (EPA:ICSAA) PRESS RELEASE - ICADE SANTE

Transparency directive : regulatory news

07/06/2021 07:30

PRESS RELEASE
Paris, June 7, 2021, 7:30 a.m

                                    ICADE SANTÉ:
HANDOVER OF FOUR FACILITIES FOR A TOTAL INVESTMENT OF EUR76M, LIQUIDITY EVENT:
              IPO CURRENTLY THE PREFERRED OPTION, A CFO APPOINTED

Operating activities

* Four facilities handed over to healthcare and senior services providers,
  representing a total investment of EUR76m which will generate immediate
  additional rental income.
* This further demonstrates the strong momentum of the development pipeline and
  the Icade Group's unique expertise in building major healthcare projects.

Liquidity event

* Preferred option: going public on Euronext Paris by the end of 2021, subject
  to market conditions.
* Appointment of Helga Camalon, currently Director Real Estate Industry Group
  at BNP Paribas CIB, with nearly 25 years of experience in the real estate
  sector, as CFO of Icade Santé.
* Additional information on the proposed transaction will be provided at the
  time the Icade Group's H1 2021 results are announced on July 26, 2021.

Operating activities: handover of four new facilities in France

Icade Santé recently handed over four facilities to healthcare and senior
services providers. These assets, representing a total investment of EUR76m and
nearly 31,000 sq.m, will generate immediate additional rental income (100%
occupancy rate).

These transactions reflect the strong momentum of the development pipeline and
the Icade Group's unique expertise in building major healthcare projects
through a long-term partnership approach with its tenant operators.

Including the facilities in Germany, Italy and Spain, the Healthcare Property
Investment Division's portfolio is worth over EUR5.7bn and totals 179
properties, including 40 outside France.

Grand Narbonne private hospital (Aude) handed over to ELSAN

Handed over by Icade Santé in May 2021, the facility will house ELSAN's acute
care (medicine and surgery) and post-acute care services for the Narbonne area.
Its lease term is 12 years with no break option.

The 20,570-sq.m facility was entirely designed using Building Information
Modelling (BIM) and has obtained HQE certification with an Excellent rating.
For this project representing a total investment of EUR48m excluding taxes and
including duties, Icade Promotion acted as Icade Santé's Delegated Project
Manager for the hospital and built an adjoining 4,000- sq.m clinic to be run by
the hospital's doctors and a 1,000? sq.m medical imaging centre.

Sur Moreau facility (Charente-Maritime) handed over to the Korian Group

This handover was carried out under the partnership agreement signed by Icade
and Korian in December 2017 for the purpose of assisting the Korian Group in
refurbishing and expanding its network of facilities in France.

The Sur Moreau post-acute care facility covers 4,702 sq.m with a capacity of 82
beds and places. It will house the Korian Group's Saint-Pierre-de-l'Isle
private hospital on a 12-year lease with no break option.

Icade Santé invested a total of EUR9.6m excluding taxes and including duties
in this project. Icade Santé relied on the expertise of Icade Promotion which
carried out the construction work under a property development contract.

Saint-Pierre private hospital extension in Perpignan (Pyrénées-Orientales)
handed over to ELSAN

Icade Santé invested EUR8.7m including taxes and duties to expand and
refurbish the Saint-Pierre private hospital in Perpignan, operated by ELSAN.

Following an initial refurbishment of the outpatient department which was
handed over in January 2021, the extension made it possible to accommodate
additional operating rooms, including a hybrid one, in the operating suite. The
facility now has a total floor area of 18,234 sq.m.

The work will continue on the site until April 2022. It will include
refurbishing the intensive care unit located right next to the operating suite,
providing direct access from the intensive care unit to the operating suite,
expanding the recovery unit and fitting out rooms in the cardiovascular unit.

Ambrussum PAC facility in Lunel (Hérault) handed over to Pôle de Santé
Lunellois

Icade Santé handed over a post-acute care facility specialised in age-related
illnesses to the public/private Pôle de Santé Lunellois (Healthcare
Cooperation Consortium bringing together the Clinipole Group and the Lunel
public hospital) under a 12-year lease with no break option.

With a floor area of roughly 5,100 sq.m and 79 beds and places, the facility
has obtained HQE certification with an Outstanding rating.

Icade Santé invested a total of EUR11.5m excluding taxes and including duties
in this project. Icade Promotion acted as its Project Manager.

Liquidity event

As part of the preparation for the liquidity event, which is one of its
priorities for the year 2021, and to finance its ambitious development and
investment plan, the option favoured by Icade is going public on Euronext Paris
by the end of 2021, subject to market conditions.

Icade will provide further information on the proposed transaction when it
announces its 2021 half-year results, scheduled for July 26.

Helga Camalon appointed as CFO of Icade Santé

As part of the project mentioned above, Icade Santé has announced the
appointment of Helga Camalon as Chief Financial Officer. Currently Director
Real Estate Industry Group at BNP Paribas CIB, 53-year-old Helga Camalon is a
recognised professional in the real estate sector. Throughout her 25 years of
experience, she has been involved in many strategic real estate projects (M&A,
IPOs, financing, asset disposals, etc.).

                                  ABOUT ICADE
                            DESIRABLE PLACES TO LIVE

As an office and healthcare property investment company (portfolio worth
EUR14.7bn on a full consolidation basis as of 12/31/2020) 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

With a portfolio worth EUR5.2 billion (on a full consolidation basis) as of
December 31, 2020, Icade Santé is the leading investor in private healthcare
facilities in France. A 58.3% owned subsidiary of the Icade Group, Icade Santé
draws on its proven expertise, its long-term shareholders as well as its
extensive knowledge of the real estate value chain. Since 2017, Icade Santé
has pursued a strategy of diversification into the nursing home segment.

Icade and Icade Santé are rated BBB+ with a stable outlook by 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.fr

This press release does not constitute an offer to sell or a solicitation to
purchase any securities in France, in the United States or in any
jurisdiction.

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

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