ORPEA (Paris:ORP) announces that it has signed today an agreement with Syntrus Achmea Real Estate & Finance, acting on behalf of the Achmea Dutch Health Care Property Fund (ADHCPF), for the sale of a portfolio of 32 retirement homes located in the Netherlands. The amount of the transaction is approximately 125 million euros.
Dagelijks Leven (DL) will continue to operate these 32 facilities. DL has developed an innovative and successful concept of specialized care and accommodation for seniors in the Netherlands, characterized by an affordable price positioning, low-capacity facilities (with around 20 residents), quality locations throughout the country and a strong development potential.
Completion of the transaction remains subject to customary conditions precedent and is expected by the end of 2022.
Laurent Guillot, Chief Executive Officer of ORPEA, said: “This transaction is fully in line with the announced assets disposal strategy and is part of the Group's reorganization plan. It demonstrates the quality of our property assets and our ability to operate them profitably with group company DL as lessee. This transaction, carried out in perfect harmony with the expectations of leading responsible investors, particularly in terms of CSR, allows us to swiftly initiate our action plan under attractive conditions. We are especially pleased about a continued cooperation with ADHCPF, a trusted partner recognized for the quality of its assets.”
It is specified that this transaction will contribute to compliance with the commitments made in the Credit Agreement signed by the Group on 13 June 2022, which provides in particular for a real estate asset disposal programme of one billion euros by the end of 2023, increased to two billion euros by the end of 2025.
About Syntrus Achmea Real Estate & Finance Syntrus Achmea Real Estate & Finance manages more than €39Bn in real estate and mortgages on behalf of seventy pension funds and other institutional investors, embedding sustainable investments with financial and social returns. Syntrus is a 100%-subsidiary of Achmea and part of the Achmea Group.
About ORPEA ORPEA is a leading global player, expert in the care of all types of frailty. The Group operates in 22 countries and covers three core businesses: care for the elderly (nursing homes, assisted living, home care), post-acute and rehabilitation care and mental health care (specialized clinics). It has more than 71,000 employees and welcomes more than 255,000 patients and residents each year.
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