Slide 1: Aedifica UK Portfolio
Aedifica UK Portfolio London – 5 May 2022
Slide 2: UK healthcare market background
UK healthcare market background Fragmented care Huge development Equipment rate in After Brexit / home market and growth the United Kingdom COVID-19 → more potential due to is lower than in political focus on outdated social Belgium, German public financing of infrastructure and the Netherland socia
Slide 3: UK healthcare market
UK healthcare market Strong investor appetite Covid impact most severe on Number of new beds private pay homes increased (+6%) but not as New entrants overseas & Burlington, ExcelCare & quickly as growth in elderly generalist real estate Bondcare performed well due population (+22%) OpCo acquisition
Slide 4: UK healthcare portfolio
UK healthcare portfolio1 PORTFOLIO OF 102 ASSETS €822 m ~6,700 6.4% 22 years Portfolio Residents Yield on WAULT Fair Value Fair Value > €130 m 15 Inflation- Insourcing Investments Tenant linked of portfolio announced groups triple net long manager since Jan 2022 leases Layland Walker 1As of 31 Decem
Slide 5: UK portfolio overview
UK portfolio overview Handsale, Congleton - 80 units Halcyon, Wellingboroug - 66 units MMCG, Market MMCG, Drayton Chard - 61 units - 70 units Halcyon, Corby - 66 units MMCG, Aylesbury 5 - 61 units
Slide 6: New Build Map
New Build Map Legally Completed 1. Aylesbury, MMCG 2. Shipley, Burlington 3. Northampton, LNT/Halcyon Care Homes 4. Rawdon, LNT/Danforth 5. Dawlish, MMCG Legally Exchanged 6. Chard, MMCG 7. Market Drayton, MMCG 6
Slide 7: UK portfolio tenant split
UK portfolio tenant split 25% 20% 15% 10% 5% 0% Based on contractual rent 7
Slide 8: UK healthcare expansion
UK healthcare expansion Forest acquired Feb 2019 Acquisitions April 2022 (incl. commitments) ◼ 92 Care Homes ◼ 28 Care Homes ◼ 111 Care Homes ◼ 5,717 bedrooms ◼ 2,196 bedrooms ◼ 7,553 bedrooms ◼ 92% en-suite ◼ 100% en-suite ◼ 95% en-suite ◼ Cost approx. £360m ◼ Cost approx. £450m Disposals ◼ Value a
Slide 9: UK acquisition case study
UK acquisition case study Marham House, Bury St Edmunds • Built by LNT, one of the UK’s largest developer of elderly care home facilities • Acquired at Practical Completion and opened March 2020. FMV: £12m (£181k/unit) • 35 year NNN lease with Halcyon Care Homes • 25 bed NHS contract awarded to assi
Slide 10: UK refurbishment case study
UK refurbishment case study Cowdray Club, Aberdeen • A refurbishment of an existing asset in Aberdeen • CapEx: £2.6m rentalised at 9.5% • Rental gain: c.£300k p.a. • £810k in value creation over initial value + investment Pre – Refurb Post – Refurb FMV £1,264,000 £4,770,000 Rent £47,000 £355,000 AWF
Slide 11: Aedifica UK strategy
Aedifica UK strategy Existing assets Expanding the portfolio Spread across the market segments Improve, extend, enhance Make the most of the existing environmental performance relationships: High End Selected disposals MMCG, Burlington, LNT, Upper Mid-Market Torsion, Hamberley, Quality LA ExcelCare
Slide 12: The future
The future The portfolio will be: Newer and/or upgraded facilities More sustainable Commercially Environmentally €1bn soon Managed by in-house team !