Slide 1: 1st quarter results 2016/2017
1st quarter results 2016/2017 30 September 2016 Brussels, 16 November 2016 -1-
Slide 2: Table of contents
Table of contents > Highlights Q1 2016/2017 > Strategy > Achievements > Portfolio analysis > Financials > Shares & shareholders > Outlook > Conclusion -2-
Slide 3: Highlights Q1 2016/2017
Highlights Q1 2016/2017 vec oa housing with care
Slide 4: Highlights Q1 2016/2017 (1)
Highlights Q1 2016/2017 (1) > 17 additions to the portfolio and completion of 2 projects in the senior housing segment during the 1st quarter > Real estate portfolio of €1.4 billion > Senior housing: 79% of the portfolio, totaling €1,109 million and spread across 3 countries − €819 million in Belgiu
Slide 5: Highlights Q1 2016/2017 (2)
Highlights Q1 2016/2017 (2) > Debt-to-assets ratio: 52.5 % > Rental income: +22 % YoY > Award: “EPRA Gold Award” for 2014/2015 Annual Financial Report -5-
Slide 6: Investment activity - Belgium
Investment activity - Belgium Q1 2016/2017 (As of 30 September 2016) > 9 additions (Foyer de Lork portfolio) − Oosterzonne (Zutendaal) − De Witte Bergen (Lichtaart) − Seniorenhof (Tongeren) − Beerzelhof (Putte) − Uilenspiegel (Genk) − Coham (Ham) − Sorgvliet (Linter) − Ezeldijk (Diest) − Residentie
Slide 7: Investment activity - Germany
Investment activity - Germany Q1 2016/2017 (As of 30 September 2016) > 5 additions (Vitanas portfolio) − Am Kloster (Saxony-Anhalt) − Rosenpark (Bavaria) − Patricia (Bavaria) − St Anna (Bavaria) − Frohnau (Berlin) -7-
Slide 8: Investment activity - The Netherlands
Investment activity - The Netherlands Q1 2016/2017 (As of 30 September 2016) > 3 additions − Genderstate (Eindhoven) − Petruspark (Eindhoven) − Parc Imstenrade (Heerlen) -8-
Slide 9: Portfolio outlook
Portfolio outlook > Total Portfolio outlook: ~ €1,518 m − €1,392 m (marketable investment properties as of 30 Sept. 2016, excl. assets classified as held for sale) − + €126 m (committed investments in pipeline, as of 30 Sept. 2016) > Average remaining lease maturity: 20 years -9-
Slide 10: Strategy
Strat egy sedifica
Slide 11: Aedifica
Aedifica (As of 30 September 2016) > Belgian REIT (RREC/SIR/GVV) − market cap ~ €1,000 m − free float of 100 % − portfolio ~ €1.4 billion − approx. 731,000 m² − see appendix for characteristics of a Belgian REIT > Focusing on healthcare real estate: “housing with care” − demographic evolution: agein
Slide 12: Demographic evolution: Ageing in Belgium
Demographic evolution Ageing in Belgium Source: "Perspectives de population 2015-2060", Belgian Federal Planning Bureau, 2015. -12-
Slide 13: Demographic evolution: Ageing in Germany
Demographic evolution Ageing in Germany Source: "Bevölkerung Deutschlands bis 2060", Statistisches Bundesamt (Deutschland), 2015. -13-
Slide 14: Demographic evolution: Ageing in The Netherlands
Demographic evolution Ageing in The Netherlands Source: "Prognose bevolking kerncijfers 2015-2060“, Centrale Bureau voor de Statistiek (CBS), 26 January 2016. -14-
Slide 15: Healthcare real estate
Healthcare real estate > Focus on senior housing − Rest homes ̶ Belgium: Woonzorgcentrum / Maison de repos ̶ Germany: Pflegeheim ̶ The Netherlands: Verpleeghuis, Zorgvilla, ... − Assisted living / Independent living ̶ Belgium: Assistentiewoning / Résidence-services ̶ Germany: Betreutes Wohnen ̶ The
Slide 16: Segment information
Segment information Senior housing Apartment buildings in Hotels in Europe Belgium’s main cities in Belgium Weight3: 79 % 16 % 5% Yield3: 5.8 % 4.9 % 6.6 % EBIT margin2: 99 % 59 % 99 % Cash flow Value play1 Cash flow (long leases) (long leases) + growth potential 1 Expected capital gains throu
Slide 17: Achievements
[] aedifica , PNM HH vert rs betiet a baad -17-
Slide 18: Milestones: years evolution
Milestones 10 years evolution (As of 30 September 2016) Investment properties at fair value €m CAGR: 26 % -18-
Slide 19: Milestones: Focus on Senior Housing
Milestones Focus on Senior Housing (As of 30 September 2016) Evolution by segment (fair value) Marketable property at fair value (€1,397 m, incl. assets held for sale) -19-
Slide 20: Milestones: Focus on Europe
Milestones Focus on Europe (As of 30 September 2016) Geographical breakdown (fair value) Marketable property at fair value (€1,397 m, incl. assets held for sale) -20-
Slide 21: Equity: Latest SPOs (2010, 2012, 2015)
Equity Latest SPOs (2010, 2012, 2015) (As of 30 September 2016) > Reminder: Gross proceeds = €67 m (Oct. 2010) + €100 m (Dec. 2012) + €153 m (June 2015) = €320 m > Since then, significant growth of investment properties: − 30 June 2010: €435 m − 30 June 2011: €518 m + €171 m − 30 Sept. 2012: €606 m
Slide 22: Equity: Latest contributions-in-kind
Equity Latest contributions-in-kind Heydeveld Prinsenhof Residentie Poortvelden Acquisition date 2/10/2015 17/12/2015 24/03/2016 Number shares issued 19,856 104,152 22,093 Amount (€ m) 1 6 1 € / shares 50.36 54.98 56.58 Dividend right entitlement Prorata Full Full Segment Senior housing Senior housi
Slide 23: Equity and investment property growth
Equity Equity and investment property growth (As of 30 September 2016) €m -23-
Slide 24: Investments since capital increase of June 2015
Investments Since capital increase of June 2015 (in € million) Marketable investment Development Total properties projects carried out subject to outstanding conditions Résidence de la Houssière Belgium 10 - - 10 Senior Flandria Belgium 10 - - 10 Mechelen Belgium - - 17 17 Vinkenbosch Belgium 4 - 12
Slide 25: Portfolio analysis
. . Ae Portfolio analysis social housing with care -25-
Slide 26: Segments
Segments (As of 30 September 2016) Apartment buildings (865 apartments in 36 sites) 20 % Senior housing (9,432 units 74 % in 97 sites) 6% 6 hotels & other (521 rooms) Marketable property at fair value (€1,397 m, incl. assets classified as held for sale) -26-
Slide 27: Geographical breakdown
Geographical breakdown (As of 30 September 2016) The Netherlands Germany Wallonia 2% 12 % 11 % Brussels Flanders 27 % 48 % Marketable property at fair value (€1,397 m, incl. assets classified as held for sale) -27-
Slide 28: Belgian portfolio
Belgian portfolio (As of 30 September 2016) > Belgium: − 2006: Initial home market for senior housing > Senior housing portfolio of 70 assets: − Capacity of 6,900 residents − Total fair value of €819 m − Yield on fair value of 5.6 % − Triple net long leases − Typical lease maturity: 27 years > Portf
Slide 29: Belgian portfolio
Belgian portfolio (As of 30 September 2016) Belgium Senior housing Apartment buildings Hotels & other -29-
Slide 30: German portfolio
German portfolio (As of 30 September 2016) > Germany: − 2013: 1st investment abroad since Aedifica’s creation in 2005 − Aedifica = 1st Belgian REIT to invest in Germany > Portfolio of 20 assets (19 Pflegeheime + 1 Betreutes Wohnen): − Capacity of 1,987 residents − Total fair value of €192 m − Yield
Slide 31: German portfolio
German portfolio (As of 30 September 2016) Germany Senior housing Apartment buildings Hotels & other -31-
Slide 32: Dutch portfolio
Dutch portfolio (As of 30 September 2016) > The Netherlands: − 2016: 3rd home market of Aedifica, after Belgium and Germany > Portfolio of 7 assets: − Capacity of 545 residents − Total fair value of €98 m − Yield on fair value of 5.6 % − Triple net long leases − Typical lease maturity: 20 years − 4
Slide 33: Dutch portfolio
Dutch portfolio (As of 30 September 2016) The Netherlands Senior housing To be completed Hotels & other -33-
Slide 34: Dutch Portfolio
Dutch Portfolio Benvenuta Saksen Weimar (As of 30 September 2016) Acquisition of a Acquisition of a care residence in Hilversum care residence in Arnhem (Province of North Holland) (Province of Gelderland) • €3 m invested amount • €8 m invested amount • 10 units • 42 units Acquisition of a Acquisiti
Slide 35: Dutch Portfolio: €73 million invested in 3 sites
Dutch Portfolio (As of 30 September 2016) > €73 million invested in 3 sites: Genderstate Acquisition of a senior housing site in Eindhoven (Province of North Brabant) • 44 units Acquisition of a senior housing site in Eindhoven Parc Imstenrade Acquisition of a senior (Province of North Brabant) • 13
Slide 36: Main tenants (1)
Main tenants (1) Segment Country Group controlling the legal Tenants Number of 30 September 2016 30 June 2016 entities in contractual relation sites with Aedifica SENIOR HOUSING 97 81% 75% Belgium 70 58% 59% Armonea * 19 18% 21% Armonea SA 8 8% 10% Restel Flats SPRL 1 1% 1% LDC De Wimilingen ASBL 1
Slide 37: Main tenants (2)
Main tenants (2) Segment Country Group controlling the legal Tenants Number of 30 September 2016 30 June 2016 entities in contractual relation sites with Aedifica SENIOR HOUSING 97 81% 75% Belgium 70 58% 59% Orpea 9 9% 10% Château Chenois Gestion SPRL 3 3% 3% New Philip SA 3 2% 2% Parc Palace SA 1 2
Slide 38: Main tenants (3)
Main tenants (3) Segment Country Group controlling the legal Tenants Number of 30 September 2016 30 June 2016 entities in contractual relation sites with Aedifica SENIOR HOUSING 97 81% 75% Germany 20 16% 13% Orpea 5 4% 5% Senioren Wohnpark Weser GmbH 3 2% 3% Bonifatius Seniorendienstr GmbH *** 1 1%
Slide 39: Main tenants (4)
Main tenants (4) Segment Country Group controlling the legal Tenants Number of 30 September 2016 30 June 2016 entities in contractual relation sites with Aedifica SENIOR HOUSING 97 81% 75% The Netherlands 7 7% 3% Domus Magnus 2 1% 2% Panta Rhei V BV 1 1% 1% DM Benvenuta BV 1 0% 0% Stepping Stones Ho
Slide 40: Lease maturity
Lease maturity (As of 30 September 2016) Initial lease maturity < 15 years 22 % 78 % ≥ 15 years, irrevocable Average remaining lease maturity 20 years Marketable property at fair value (€1,397 m, incl. assets classified as held for sale) -40-
Slide 41: Age of buildings
Age of buildings (As of 30 June 2016) Other contracts Buildings > 10 years 16 % Other contracts Long-term Buildings between 14 % triple net 0-10 years 70 % contracts Marketable property at fair value (€1,131 m, incl. assets classified as held for sale) -41-
Slide 42: Occupancy rate
Occupancy rate 98 % 95 % Very high and stable occupancy rates Red line: Total portfolio (excl. furnished apartments) (95% of portfolio) : (contractual + guaranteed rents) / (contractual rents + ERV for unlet spaces). Green dots: Furnished apartments (5% of portfolio) : Rented days QTD / total numb
Slide 43: Yields on fair value
Yields on fair value (As of 30 September 2016) Weighted average 5.7 % -43-
Slide 44: Segment EBIT margins
Segment EBIT margins* (As of 30 June 2016) Senior Apartment Hotels buildings Unallocated & housing & TOTAL inter-segment other FY 2007/2008 100 % 64 % 98 % - 68 % FY 2008/2009 100 % 64 % 96 % - 71 % FY 2009/2010 100 % 64 % 99 % - 73 % FY 2010/2011 100 % 64 % 98 % - 75 % FY 2011/2012 100 % 63 % 99 %
Slide 45: Valuation of property
Valuation of property* 2008 → 2016 FY 2008/2009 FY 2009/2010 FY 2010/2011 FY 2011/2012 FY 2012/2013 FY 2013/2014 FY 2014/2015 FY 2015/2016 Q1 2016/2017 €k % €k % €k % €k % €k % €k % €k % €k % €k % Senior housing 13 0% 1,684 1% 6,072 2% 5,991 2% 7,347 2% 5,896 1% 13,343 2% 17,588 2% 8,330 1% Apartmen
Slide 46: Development projects
Development projects (As of 30 September 2016) Projects and renovations Estimated Inv. as of Future inv. Date of Comments inv. 30 Sep 2016 completion (in € million) I. Projects in progress 't Hoge Kortrijk (BE) 2 1 1 2016/2017 Extension and renovation of a rest home Molenenk Deventer (NL) 10 4 6 201
Slide 47: Development projects
Development projects 252 -97 -10 -10 -8 126 -47-
Slide 48: Financials
Ae Financials sede] housing with care -48-
Slide 49: Income Statement: Business driven
Income Statement Business driven Income Statement - analytical scheme 30 June 2016 30 June 2015 Var. (x €1,000) Rental income 59,822 49,903 +20% Rental-related charges -35 -50 Net rental income 59,787 49,853 +20% Operating charges -12,173 -10,831 Operating result before result on portfolio 47,614 39
Slide 50: Income Statement: Business driven
Income Statement Business driven Income Statement - analytical scheme 30 June 2016 30 June 2015 Var. (x €1,000) Rental income 59,822 49,903 +20% Rental-related charges -35 -50 Net rental income 59,787 49,853 +20% Operating charges -12,173 -10,831 Operating result before result on portfolio 47,614 39
Slide 51: Rental income (as of June 2016)
Rental income (As of 30 June 2016) + 9,951 -123 +91 59,822 49,903 Change: +29.2 % -1.1 % +2.4 % +19.9 % Like-for-like change: +0.8 % -1.1 % +2.4 % +0.5 % 20 % increase YoY -51-
Slide 52: Rental income (as of September 2016)
Rental income (As of 30 September 2016) + 3,382 -262 +59 17,351 14,172 Change: +33.2 % -8.7 % +7.8 % +22.4 % Like-for-like change: +1.5 % -8.7 % +7.8 % -0.6 % 22 % increase YoY -52-
Slide 53: Result excl. changes in fair value
Result excl. changes in fair value (As of 30 June 2016) +9,951 -421 -123 +185 +93 -1,463 +810 +422 -303 -243 -248 +372 -204 34,326 25,498 -53-
Slide 54: Result excl. changes in fair value vs Budget
Result excl. changes in fair value vs Budget (As of 30 June 2016) 34 32 -54-
Slide 55: Income Statement: Market driven
Income Statement Market driven Income Statement - analytical scheme 30 June 2016 30 June 2015 (x €1,000) Profit excl. changes in fair value 34,326 25,498 IAS 39 impact: changes in fair value of financial assets and liabilities -5,685 374 IAS 40 impact: changes in fair value of investment properties
Slide 56: Hedging policy
Hedging policy (As of 30 June 2016) > Economic stability and Business driven: foreseeability of Avg effective interest rate of 2.9 %, interest cash below PY (3.0 %) and budget (3.0 %) outflows... > ... even in spite Market driven: of accounting Change in FV of derivatives (non cash items) under IAS
Slide 57: Consolidated balance sheet
Consolidated balance sheet (€ m) (As of 30 June 2016) Assets Equity & Liabilities -57-
Slide 58: Debt-to-assets ratio
Debt-to-assets ratio (As of 30 September 2016) Headroom* : - Debt increase of €107 m without investments or €269 m with investments - Drop of MTM of buildings of 12 % Before After SPO 2015 SPO 2015 * Based on bank covenant of max. 60 %. Based on legal max. of 65 %, headroom is respectively €180 m, €
Slide 59: Credit facilities
Credit facilities (€ m) (As of 30 September 2016) Maturity Lines Utilisation 2016/2017 30 30 2017/2018 92 92 2018/2019 131 111 2019/2020 80 80 2020/2021 91 91 2021/2022 167 132 2022/2023 160 94 2023/2024 81 54 2024/2025 and following : 43 43 Total 875 727 Weighted Average Maturity (years) 4.4 4.1
Slide 60: Net asset value
Net asset value Net asset value per share (in €) 30 September 30 June Var. 2016 2016 Based on fair value of investment properties Net asset value based on fair value 44.33 43.74 1% IAS 39 impact 3.32 3.34 Net asset value excl. IAS 39 47.65 47.08 1% Premium on 15 Nov. 2016: 56% vs NAV at FV incl. IAS
Slide 61: Number of shares
Number of shares Number of shares 30 September 2016 30 June 2016 Number of shares outstanding* 14,192,032 14,045,931 Total number of shares 14,192,032 14,045,931 Total number of shares on the stock market*** 14,172,176 14,045,931 Weighted average number of shares outstanding (IAS 33) 14,122,758 10,6
Slide 62: Value potentially not reflected in the NAV
Value potentially not reflected in the NAV > Belgian REIT → highly regulated framework > Assessment: long term cash flows at interesting yields > Pipeline: − Committed − Pre-let > Track record of successful investments > Track record of successful financing (equity and debt) -62-
Slide 63: EPRA
EPRA > Aedifica included in the EPRA indices -63-
Slide 64: Shares & shareholders
Shares & shareholders ie aedifica | housing with care -64-
Slide 65: Dividend track record
Dividend track record * 2016/2017 Budgeted dividend (see section 7 of the Board of Directors’ Report included in the 2015/2016 Annual Financial Report). -65-
Slide 66: Share price since IPO
Share price since IPO (As of 15 November 2016) Spot Var. (%) Aedifica 69.30 91 BEL MID 4,373.51 19 EPRA Belgium 1,248.10 -12 EPRA Europe 1,924.26 -28 Aedifica: based on the IPO price (€41), adjusted to take into account the rights issues of 2010 (- €1.89), 2012 (- €1.93) and 2015 (- €0.89), i.e. an
Slide 67: Total return since IPO
Total return since IPO (As of 15 November 2016) Var. (%) Aedifica total return* 102 181 EPRA Belgium total return 3,632 68 EPRA Europe total return 2,169 1 * Aedifica: based on the IPO price (€41), adjusted to take into account the rights issues of 2010 (- €1.89), 2012 (- €1.93) and 2015 (- €0.89),
Slide 68: Shareholding
Shareholding* (As of 18 December 2015) Free float 100 % * A total of 14,192,032 shares are listed on Euronext Brussels (2 November 2016). -68-
Slide 69: Rankings
Rankings > The highest free float of all Belgian REITs > 4th largest market cap amongst all Belgian REITs1 > 8th largest real estate portfolio in Belgium2 (36th in 2006) > Aedifica accounts for 36 % of the invested volume in Belgian rest homes in 2005-20153 1 Based on the 14 Nov. 2016 “Weekly Table
Slide 70: Awards
Awards EPRA “EPRA Reporting: Best Practices Recommendations” (BPR) > Annual Report 2012/2013 (1st implementation of BPR) > Annual Report 2013/2014 > Annual Report 2014/2015 -70-
Slide 71: Corporate governance
Corporate governance > Transparency > Board of Directors − NV/SA − 9 Directors − Management in the box ̶ 7 non-executive Directors of which 5 independent ones − Belgian Code 2009 on ̶ 2 executive Directors Corporate Governance ̶ Gender diversity ratio: 44 % − Audit Committee − Nomination & Remunerat
Slide 72: Outlook
fre Outlook aecifica | housing with care -72-
Slide 73: Outlook FY 2016/2017: Portfolio - Focus on investments
Outlook FY 2016/2017 Portfolio - Focus on investments > Development pipeline: ‘t Hoge Molenenk Villa Temporis Au Bon Vieux Temps Op Haanven La Ferme Blanche Vinkenbosch I Prinsenhof Hotel Martin’s Brugge Walgaerde Glabbeek Jardins de la Mémoire -73-
Slide 74: Outlook FY 2016/2017: Portfolio - Focus on investments
Outlook FY 2016/2017 Portfolio - Focus on investments > Development pipeline: ‘t Hoge Molenenk Villa Temporis I Villa Temporis II Au Bon Vieux Temps Op Haanven La Ferme Blanche Vinkenbosch I Prinsenhof Hotel Martin’s Brugge Walgaerde Glabbeek Jardins de la Mémoire -74-
Slide 75: Outlook FY 2016/2017: Objective for future investments
Outlook FY 2016/2017 Portfolio - Focus on investments > Objective for future investments: Enhancing long-term cash flows in senior housing Growing in the 3 home markets Belgium The Netherlands Germany Exploring new segments -75-
Slide 76: Outlook FY 2016/2017: Objective for future investments
Outlook FY 2016/2017 Portfolio - Focus on investments > Objective for future investments: Enhancing long-term cash flows in senior housing Growing in the 3 home markets Belgium (Foyer de Lork deal closed on 19 Aug. 2016) The Netherlands (Vitalis deal closed on 14 Sept. 2016) Germany (Vitan
Slide 77: Outlook FY 2016/2017
Outlook FY 2016/2017 > Budgeted rental income: €76 m > Budgeted result excl. changes in fair value: €42 m > Budgeted EPS excl. changes in fair value: €2.97/share > Budgeted DPS: € 2.25/share (gross), higher than FY 2015/2016 > Actual Q1 2016/2017: ahead of budget -77-
Slide 78: Outlook FY 2016/2017: Tax shift
Outlook FY 2016/2017 > “Tax shift”: − Withholding tax raised to 27 % (2016) instead of 15 % (2015) − Could be reduced to 15 % for healthcare REITs like Aedifica in 2017 (pending new tax regulation) -78-
Slide 79: Conclusion
fey d | housing with care aedific ‘ae Conclusion
Slide 80: Conclusion: Attractiveness for shareholders
Conclusion Attractiveness for shareholders: > Strong underlying demographic trends > Long-term growth potential > Fair value history of portfolio showing resilience > Average remaining lease duration: 20 years > Investment, equity and debt-financing track record > Dividend track record -80-
Slide 81: sedifica |
sedifica | housing with care
Slide 82: Stefaan Gielens - Chief Executive Officer
Stefaan Gielens - Chief Executive Officer Jean Kotarakos - Chief Financial Officer Martina Carlsson – Control & Communication manager -82-
Slide 83: Aedifica SA/NV
Aedifica SA/NV Public REIT under Belgian Law Regulated Real Estate Company (RREC) Société immobilière réglementée (SIR) Gereglementeerde vastgoedvennootschap (GVV) Avenue Louise 331 bte 8 1050 Brussels Tel: +32 (0)2 626 07 70 - Fax: +32 (0)2 626 07 71 info@aedifica.be www.aedifica.be -83-
Slide 84: Forward looking statement
Forward looking statement To the extent that any statements made in this presentation contain information that is not historical, these statements are essentially forward-looking. The achievement of forward- looking statements contained in this presentation is subject to risks and uncertainties beca
Slide 85: Appendix
. fre Appendix aedifica |’
Slide 86: Belgian REIT
Belgian REIT > “sicafi / vastgoedbevak” until 17 October 2014 > RREC (SIR / GVV) since 17 October 2014 > Investment property: maximum 20 % in one (group of) asset(s) > Appraisal: − At fair value on a quarterly basis by an independant expert − No depreciation of properties > Dividend: at least 80 % o
Slide 87: Milestones
Milestones > Nov. 2005: Creation of Aedifica > Dec. 2005: Filed as Vastgoedbevak/Sicafi + 1st acquisitions > Oct. 2006: IPO > Oct. 2010: 1st SPO > Dec. 2012: 2nd SPO > Oct. 2014: SIR/GVV > June 2015: 3rd SPO -87-
Slide 88: Investments in 2015/2016 (1)
Investments in 2015/2016 (1) Flandria 9 July 2015 Acquisition of an assisted-living building in Bruges (Province of West-Flanders, Belgium) • €10m invested amount • 108 units Résidence La Houssière 1 October 2015 Acquisition of a rest home in Hasselt (Province of Limburg, Belgium) 2 July 2015 • €4 m
Slide 89: Investments in 2015/2016 (2)
Investments in 2015/2016 (2) Heydeveld 2 October 2015 Acquisition of a rest home in Opwijk (Province of Flemish Brabant, Belgium) • €9m invested amount • 75 units Prinsenhof 17 December 2015 Acquisition of a rest home in Koersel (Province of Limburg, Belgium) • €6 m invested amount • 41 units -89-
Slide 90: Investments in 2015/2016 (3)
Investments in 2015/2016 (3) 29 February 2016 Acquisition of a rest home and an assisted-living building in Husum (State of Schleswig-Holstein, Germany) • €7 m invested amount • 83 units Käthe-Bernhardt-Haus 1 March 2016 Acquisition of a portfolio (1 site under construction and 1 site subject to out
Slide 91: Investments in 2015/2016 (4)
Investments in 2015/2016 (4) 24 March 2016 Acquisition of a rest home and an assisted-living building in Aarschot (Province of Flemish Brabant, Belgium) • €12 m invested amount • 84 units Residentie Poortvelden 29 March 2016 Acquisition of a rest home and an assisted-living building in Leopoldsburg
Slide 92: Investments in 2015/2016 (5)
Investments in 2015/2016 (5) 13 May 2016 Acquisition of a care residence in Arnhem (Province of Gelderland, The Netherlands) • €8 m invested amount • 42 units Saksen Weimar 15 April 2016 Completion of the extension of a rest home in Melle (Province of East Flanders, Belgium) • €4 m invested amount •
Slide 93: Investments in 2015/2016 (6)
Investments in 2015/2016 (6) 28 June 2016 Completion of the extension of a rest home in Kalletal (State of North Rhine- Westphalia, Germany) • Less than €3 m invested amount • 28 extra units Die Rose im Kalletal Martha Flora Lochem Jardins de la Mémoire 2 June 2016 28 June 2016 Acquisition of a care
Slide 94: Investments in 2016/2017 (1)
Investments in 2016/2017 (1) 14 September 2016 Acquisition of a portfolio of 3 senior housing sites in The Netherlands • €73 m invested amount • 446 units Parc Imstenrade 31 August 2016 Acquisition of a portfolio of 5 rest homes in Germany • €60 m invested amount • 657 units Ezeldijk 19 August 2016
Slide 95: Investments in 2016/2017 (2)
Investments in 2016/2017 (2) 30 September 2016 30 September 2016 Acquisition of a rest home Completion of a rest home in in Glabbeek (Province of Mont-Saint-Guibert (Province Flemish Brabant, Belgium) of Walloon Brabant, Belgium) • €12 m invested amount • €10 m invested amount • 90 units • 104 units
Slide 96: Notes
fre ; Notes aecifica |' housing with care -96-