ICADE SANTE (EPA:ICSAA) ICADE’S HEALTHCARE PROPERTY DIVISION ACQUIRES ANOTHER TWO FACILITIES IN ITALY AND SPAIN FOR €23M

Transparency directive : regulatory news

29/07/2021 18:00

PRESS RELEASE
Paris, July 29, 2021, 6:00 p.m.

ICADE'S HEALTHCARE PROPERTY DIVISION ACQUIRES ANOTHER TWO FACILITIES IN ITALY
                           AND SPAIN FOR EUR23M

         Italy: Acquisition of a nursing home in Campodarsego

On July 22, 2021, Icade's Healthcare Property Investment Division(1) closed the
acquisition of a nursing home in Italy from Numeria for around EUR13m,
including duties, after obtaining the appropriate permits required for its
operation.

Located in Campodarsego in Italy's Veneto region, the facility has a floor area
of 6,000 sq.m and a total of 120 beds.

This transaction follows on from the memorandum of understanding signed in
October 2018 with Numeria SGR S.p.A. and Gheron to acquire nursing home
properties (Residenze Sanitarie Assistenziali, RSA) in Northern Italy
(Piedmont, Veneto, Lombardy).

The Gheron group operates the facility under an 18-year lease with no break
option. Gheron is a fast-growing specialist healthcare operator which manages
several facilities in Northern Italy, totalling 3,000 beds in operation.

This transaction brings to three the number of facilities operated by Gheron
and owned by Icade's Healthcare Property Investment Division. The development
pipeline includes notably ten additional nursing homes to be operated by
Gheron, for deliveries expected by 2024.

(1) Through Icade Healthcare Europe, a vehicle 59% owned by Icade S.A.
dedicated to international healthcare property investments / acquisition via
its Italian fund

Spain: Preliminary agreement signed to acquire a third nursing home, located in
Tenerife

On July 27, 2021, Icade's Healthcare Property Investment Division(2) signed a
preliminary agreement with the Amavir group to acquire a nursing home in Spain
for around EUR10m including duties. Located in Santa Cruz de Tenerife in the
Canary Islands, the facility has a total of 104 beds.

The acquisition is expected to be closed in H1 2023, upon completion of the
facility and once the appropriate permits required for its operation have been
obtained. The nursing home will be leased from the acquisition date for a
25-year term with no break option.

This transaction is part of the continuing long-term partnership with the
Amavir group which began in March 2021, and completes the existing pipeline of
two nursing homes, with further transactions possible in the future to support
Amavir's growth strategy in Spain. Amavir Group is the Spanish subsidiary of
the French group Maisons de Famille and Spain's fifth-largest operator of
nursing care homes, with a portfolio of 42 facilities and nearly 8,000 beds.

These two transactions with Gheron and Amavir further illustrate the Healthcare
Property Investment Division's international diversification and its growth
strategy based on a long-term partnership approach with its tenant operators.

These acquisitions bring the number of facilities owned in Italy to 15 and the
number of assets under preliminary agreements in Spain to three. The Healthcare
Property Investment Division holds 185 properties, out of which 42 outside
France. As of June 30, 2021, its portfolio was worth roughly EUR6.0bn excluding
duties.

                     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

With a portfolio worth EUR5.5bn as of June 30, 2021, 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 in
healthcare property, its long-term shareholders as well as its extensive
knowledge of the real estate value chain. Since 2017, Icade Santé has
diversified its investments 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.

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

(2) Through Icade Healthcare Europe, a vehicle 59% owned by Icade S.A.
dedicated to international healthcare property investments / acquisition via
its Spanish subsidiary

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ICADE SANTE (EPA:ICSAA) ICADE’S HEALTHCARE PROPERTY DIVISION ACQUIRES ANOTHER TWO FACILITIES IN ITALY AND SPAIN FOR €23M

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