Care Property Invest RREC

Care Property Invest is a Public Regulated Real Estate Company incorporated under Belgian law (hereafter RREC) (status since 25 November 2014) and occupies a clear position within the RREC landscape through its specialisation in the market segment of housing for seniors and people with disabilities.

The Company was established on the initiative of the Flemish Government on 30 October 1995 – under the name Serviceflats Invest NV/SA – for the purpose of constructing and financing service flats for PCSWs and social non-profit organizations.

Thanks to this status, Care Property Invest’s shareholders can benefit from a withholding tax rate of 15%.

Mission: Care building in complete confidence

Based on the expertise and know-how built up in the realization of service flats for the Flemish government, the Company today invests in affordable, high-quality and attractive health care infrastructure and various forms of housing for seniors and people with disabilities (all forms of housing included in the residential care decree and forms of housing for people with disabilities). For example, it invests in residential care centres, groups of assisted living apartments and housing complexes for people with disabilities.

These buildings are then made available to the care operator for a long period of time.

The care operator can opt for a tailor-made solution at Care Property Invest, including the following formulas:

  • Design – Build – Finance – (Maintain) -Formula
    In a Design-Build-Finance formula, Care Property Invest is responsible for the entire project development, from architecture, cooperation with contractors, project realisation and follow-up ,up to and including the financing of the project.
  • Refinancing of existing buildings
    Existing buildings that are in need of major renovation can also be transferred to Care Property Invest by means of a right of lease, a right of superficie or simply by purchase.
  • Development of and invest in healthcare real estate.
    In addition to the DBF(M) formula, Care Property Invest also acquires land and/or buildings and projects under construction/development by care entrepreneurs.
  • Other customised solutions can be discussed at any time

If you are interested in working with us, please contact us!

Strategy

The Company’s strategy is based on:

  • growing demand for real estate with social added value, namely healthcare infrastructure that is fully geared to the needs of its residents.
  • demographic evolution of the Belgian population, which is expected by the Federal Planning Bureau to reach an ageing peak in 2050.
  • expectations and needs of operators in this market. That is why Care Property Invest always enters into long-term contracts and collaborations.

Real estate strategy:

  • A property portfolio that consists of 100% healthcare property, which implies a withholding tax of 15% for its shareholders (Reduced withholding tax if the RREC portfolio consists of at least 60% healthcare property).
  • Risk diversification of the portfolio: balanced geographical diversification, diversification of operators.
  • Balanced distribution of solvent operators.
  • A good balance between private and public collaborations.
  • By expanding its corporate purpose, the Company intends to implement its strategy in a select number of key geographical markets within the EEA.
    ‘buy and hold’: retention of real estate on a long-term basis.

Financial Strategy:

  • Continuous dialogue with the healthcare sector, the government, potential and current investors, financiers and all stakeholders in general.
  • Care Property Invest seeks to finance itself in the best possible way by using its own and foreign resources. Foreign resources are raised in as diversified a way as possible. The objective is to have a debt ratio of no more than 55%, with a good debt coverage ratio. By continuously expanding its scale, the Company is always striving to achieve a competitive distribution of debts and capital costs and to improve its operating margin.
  • By concluding long-term leasehold and lease agreements, the Company creates long-term cash flows. The triple net nature of these agreements with solid operators and the transfer of the vacancy risk to the operator (with the exception of the investment in Gullegem) enabled the Company to maintain a low risk profile.

Care Property Invest continues to develop its carefully composed healthcare real estate portfolio so that its shareholders can continue to enjoy a solid and stable dividend yield. Care Property Invest’s ambition is to be the reference (leader) in its market and to achieve accelerating growth.

Target Groups

  • Local authorities and charitable organisations (based on its experience in building service flats for the Flemish Government)
  • Private operators

The Care Property Invest share (CPINV)

Listing

Care Property Invest’s shares are listed on Euronext Brussels.

  • Name of share: CPINV
  • ISIN code: BE0974273055

EPRA
Care Property Invest is a member of the EPRA organisation and applies the EPRA standards in its annual and half-yearly communications (website).

Index recordings

Care Property Invest’s share is included in the following indexes:

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