Brief: Care Property Invest Signs Agreement For Residential Care Centre In Spain

Care Property Invest NV

16/07/2021 11:18

July 16 (Reuters) - CARE PROPERTY INVEST NV  CPINV.BR :
    * EXPANDS SPANISH HEALTHCARE REAL ESTATE PORTFOLIO
    * NEW RESIDENTIAL CARE CENTRE WILL BE BUILT IN TAVERNES
BLANQUES,
A SUBURB OF VALENCIA
    * THIS TRANSACTION IS PART OF CARE PROPERTY INVEST'S
STRATEGIC
GROWTH PLAN IN THIS MARKET
    * PROJECT WILL BE BUILT BY VIVALTO VIE SPAIN S.L.U. (PART OF
VIVALTO GROUP) AND WILL ACCOMMODATE 138 SENIOR CITIZENS UPON
COMPLETION, EXPECTED IN Q4 OF 2023
    * TOTAL INVESTMENT VALUE FOR CONSTRUCTION OF THIS
RESIDENTIAL CARE
CENTRE IS ESTIMATED TO BE APPROXIMATELY EUR 10.2 MILLION
    * FOR OPERATION OF THIS PROJECT, CO WILL CONCLUDE A NEW
LONG-TERM
LEASE AGREEMENT OF 'TRIPLE NET' TYPE (RENEWABLE AND ANNUALLY
INDEXABLE) WITH A MINIMUM DURATION OF 20 YEARS WITH A SOLIMAR,
SUBSIDIARY OF VIVALTO GROUP

Source text for Eikon:  ID:nNDLJygWS 
Further company coverage:  CPINV.BR 

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