Report
Wim Lewi

Care Property Invest CPI announces new CEO

Care Property Invest announced Patrick Couttenier as its new CEO as of 1 January 2025. He will take over from current CEO Peter van Heukelom, whose mandate expires on 31 December 2024. He will remain on the Board of Directors. Patrick Couttenier will start on 1 October 2024 to prepare the hand over. He accumulated over 35 years of experience in the financial sector of which 31 years at KBC group. He currently runs the Family Capital Solutions segment, but spent most of his career at corporate banking, where he also became general manager. We welcome this news as it solves the uncertainty around the CEO transfer. With Patrick, CPI will be run by a seasoned professional that needs to restore the trust of the financial markets. CPI is caught in a catch-22 situation between a steep discount to NTA due to its debt ratio and a low growth potential due to capital needs. On, the other hand, the NL deal in Bloemendaal earlier this week shows that it can still close interesting deals.
Underlying
Care Property Invest SA

Care Property Invest NV. Care Property Invest NV, formerly Serviceflats Invest NV, is a Belgium-based real estate investment company that builds and finances housing for pensioners. The Company specializes in premises equipped with technologies ensuring safety and comfort of elderly people. In addition, Care Property Invest designs, builds, supervises the progress of a number of construction works, monitors the budget and finances projects in the long term. Care Property Invest NV cooperates mainly for public health care center in Antwerp -Openbaar Centrum voor Maatschappelijk Welziijn (OCMW), including Berchem. The Company focuses its activities on the Belgian market. It operates through a number of subsidiaries, such as Ter Bleuk NV, Siger SA and Konli BVBA and VSP Wolvertem bvba.

Provider
KBC Securities
KBC Securities

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Analysts
Wim Lewi

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