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United States

Care Property Invest Acquires and Redevelops 'Margarita Maria Church' In Tilburg


Wednesday, 27 Mar 2019 02:18am EDT 

March 27 (Reuters) - CARE PROPERTY INVEST NV ::ANNOUNCED ON TUESDAY THE ACQUISITION AND REDEVELOPMENT OF THE ‘MARGARITHA MARIA CHURCH’ IN TILBURG (NETHERLANDS) INTO A CARE RESIDENCE.THIRD PROJECT THAT THE COMPANY EFFECTIVELY ACQUIRES IN THE NETHERLANDS THROUGH ITS DUTCH SUBSIDIARY CARE PROPERTY INVEST.NL3 BV.PROJECT WILL BE OPERATED BY VANDAEGH NEDERLAND ON BASIS OF A NEW LONG-TERM LEASEHOLD AGREEMENT OF THE ‘TRIPLE NET’ TYPE WITH A MINIMUM DURATION OF 20 YEARS (RENEWABLE).TOTAL INVESTMENT COST OF THIS PROJECT AMOUNTS TO APPROX. EUR 8.04 MILLION, TO BE FULLY FINANCED WITH LOAN CAPITAL. 

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