ORPEA Announces the Sale of 22 Residential Care Facilities in the Netherlands to Amvest Living & Care for a Total Amount of 85 Million Euros

30 Aug 2023 18:00 CEST

Regulatory News:

This summer, ORPEA (Paris:ORP) signed an agreement with Amvest Living & Care Fund for the sale of a portfolio of 22 facilities under development, located in the Netherlands, which will eventually provide care to 480 residents. This new sale and leaseback agreement, worth €85 million, will bring to 75 the number of homes owned by Amvest and operated by its subsidiary Dagelijks Leven.

For several years now, Dagelijks Leven has been developing an innovative concept in the Netherlands for specialised care and accommodation for elderly people with cognitive disorders, characterized by an affordable price positioning within a low-scale setting (accommodating a maximum of 22 residents).

These homes, which construction will be achieved over 2023, 2024 and the first half of 2025, will be spread throughout the Netherlands. The first two facilities in this portfolio, located in the towns of Culemborg and Hardenberg, were handed over on the 10^th of August 2023.

Following on from the disposals completed in July 2023, these transactions are fully in line with the targeted property asset ownership strategy set out in the ORPEA Group's Refoundation Plan, which aims at achieving a 20% to 25% ownership rate of operated assets in the medium term. They also illustrate the Group’s ability, via its subsidiary Dagelijks Leven, to meet the expectations of a long-term investor committed to developing an innovative range of care and hospitality services in local areas.

About ORPEA

ORPEA is a leading global player, expert in providing care for all types of frailty. The Group operates in 21 countries and covers three core businesses: care for the elderly (nursing homes, assisted living facilities, homecare and services), post-acute and rehabilitation care and mental health care (specialized clinics). It has more than 76,000 employees and welcomes more than 267,000 patients and residents each year.

https://www.orpea-group.com/en

ORPEA is listed on Euronext Paris (ISIN: FR0000184798) and is a member of the SBF 120, MSCI Small Cap Europe and CAC Mid 60 indices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230830048681/en/

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