NautaDutilh successfully assisted Petercam, Belfius and KBC Securities in their role as underwriters in the EUR 38mio secondary public offering of Care Property Invest. Belfius and Petercam acted as Joint Global Coordinators and Joint Bookrunners and KBC Securities as Co-Lead Manager.

The offering: This is the first equity offering by way of priority allocation in favour of existing shareholders by a Belgian REIT (Real Estate Investment Trust). During the subscription period, which closed for private investors on 17 June 2015 and for Institutional Investors on 18 June 2015, 100% of the 2,825,295 offered new shares were subscribed. The Issue Price was fixed at EUR 13.45 per share, and was determined on the basis of the private placement in which exclusively Institutional Investors were able to participate.

Payment and delivery of the shares occurred on 22 June 2015, subject to realisation of the capital increase on 22 June 2015. The new shares were tradable on Euronext Brussels as from 22 June 2015, under the same ISIN Code as the Existing Shares (BE0974273055).

Care Property Invest: Care Property Invest, formerly known as Serviceflats Invest N.V.,  is a Belgian Real Estate Investment Trust (GVV, Gereglementeerde Vastgoedennootschap or SIR, SociAtA ImmobiliAre RAglementAe) and invests in care and nursing homes or facilities for people with physical limitations.

Team: The team that advised the Underwriters consisted of Nicolas de Crombrugghe, Philippine De Wolf and Harry Eliaerts.

Matter Type: Banking & Finance - Capital Markets: Equity.

Industry: Finance & Banking