ICADE (EPA:ICAD) - ACQUISITION OF 14 NURSING HOMES BY ICADE SANTÉ (€189M), OFF-PLAN SALE OF AN OFFICE BUILDING BY ICADE PROMOTION (18,000 SQ.M FOR €95M)

Transparency directive : regulatory news

29/03/2018 19:37

PRESS RELEASE
Paris, March 29th, 2018

* ACQUISITION OF 14 NURSING HOMES BY ICADE SANTÉ (EUR189M)
* OFF-PLAN SALE OF AN OFFICE BUILDING BY ICADE PROMOTION (18,000 SQ.M FOR
EUR95M)

Icade Santé: acquisition of a portfolio of 14 nursing homes for EUR189 million

Icade Santé is making its first investment in the nursing home sector through
the acquisition of 14 health facilities, for EUR189 million, from the Residalya
network, a subsidiary of the Ackermans & van Haaren Group. Residalya is also
the operator of these nursing homes.

Residalya-the tenth largest for-profit private nursing home operator in France,
with 34 facilities and over 2,650 beds-will remain the tenant and operator of
these 14 sites, under new 12 - year leases with no break options. As a result,
the group will be one of Icade's long-term partners.

The buildings are either new or recent and provide close to 1,300 inpatient and
outpatient beds in Nouvelle-Aquitaine, Hauts-de-France, Auvergne-Rhône-Alpes
and Provence-Alpes-Côte d'Azur.

The acquisition is expected to be completed in July 2018 once the conditions
precedent have been fulfilled.

Through this transaction, Icade Santé is implementing its strategy to
diversify into long-term care facilities. It is also reinforcing its position
as the leader in healthcare real estate, with a post-acquisition portfolio of
114 assets for a total of more than EUR4.2 billion (excl. duties) and a
post-acquisition annualised rental income of over EUR234 million(1).

Icade Promotion: off-plan sale of an 18,000 sq.m office building in Villejuif
for EUR95 million

Icade announces that, on March 29, 2018, it signed an off-plan sale agreement
with SCPI Elysées Pierre, managed by HSBC REIM, for an 18,000 sq.m office
building in Villejuif (Val-de-Marne) for EUR95 million (excl. duties).

After pre-letting this entire commercial development in February 2017 (9 -year
off-plan lease with no break option signed with Orange), Icade Promotion has
thus sold this building scheduled for completion in Q4 2019.

Architects Lehoux Phily Samaha et Lahyani Selarl

The building was designed based on an eco-friendly approach ensuring respect
for the natural environment and reduced energy consumption. It aims to obtain
the best labels and certifications (Effinergie+, NF certification for
commercial buildings - 2015 HQE approaches with a Sustainable Building
Passport ranked Excellent, and BREEAM International New Construction 2016
ranked Excellent).

(1) Based on data as of December 31, 2017 (on a 100% basis)

For this transaction, Icade was advised by Colliers International and the
Thibierge notary's office and the buyer by the Allez et Associés notary's
office.

ABOUT ICADE

Building for every future

As an investor and a developer, Icade is an integrated real estate player which
designs innovative real estate products and s ervices adapted to new urban
lifestyles and habits. By placing corporate social responsibility and
innovation at the core of its strategy, Icade is closely involved with
stakeholders and users in the cities-local authorities and communities,
companies and employees, institutions and associations... As a commercial and
healthcare property investor (portfolio value of EUR10.8bn as of 12/31/ 17 on
a proportionate consolidation basis) and as a property developer (2017 economic
revenues of EUR1,209m), Icade has been able to reinvent the real estate
business and foster the emergence of tomorrow's greener, smarter and more
responsible cities. Icade is a significant player in the Greater Paris area and
major French cities. Icade is listed on Euronext Paris as a French Listed Real
Estate Investment Company (SIIC). Its leading shareholder is the Caisse des
dépôts Group.

The text of this press release is available on the Icade website:
www.icade.fr

CONTACTS

Guillaume Tessler,
Head of financial communication and investor relations
+33(0)1 41 57 71 61
guillaume.tessler@icade.fr

Charlotte Pajaud-Blanchard,
Press relations manager
+33(0)1 41 57 71 19
charlotte.pajaud-blanchard@icade.fr

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ICADE (EPA:ICAD) - ACQUISITION OF 14 NURSING HOMES BY ICADE SANTÉ (€189M), OFF-PLAN SALE OF AN OFFICE BUILDING BY ICADE PROMOTION (18,000 SQ.M FOR €95M)

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