INFORMATION OF THE PROPERTIES. The Properties comprise 10 senior housing properties, of which three are located in the State of Oregon, three in the State of Washington, two in the State of New Mexico, and one in each of the States of Nevada and Nebraska in the U.S. The Properties together provide an aggregate of approximately 1,060 units (as independent living units, assisted living and memory care services which are available to residents through a third-party home healthcare company) with a total rentable area of over 450,000 square feet. Based on the information provided by the Sellers, the historical overall average occupancy rate of the Properties was over 70%. Based on the preliminary valuation prepared by an independent professional valuer using direct capitalisation approach, the aggregate market value of the Properties as at valuation dates between 27 February 2018 to 8 March 2018 amounts to approximately US$70,100,000 (equivalent to approximately HK$550.1 million). Set out below is the key historical financial information attributable to the Properties for each of the two years ended 31 December 2016 and 2017, based on the management accounts provided by the Sellers: For the year ended 31 December 2016 (Unaudited) Equivalent to For the year ended 31 December 2017 (Unaudited) Equivalent to US$’000 HK$’000 US$’000 HK$’000 Revenue 28,542 223,998 27,779 218,010 Net operating income before deducting management fee payable to operator 6,992 54,873 5,891 46,233 As advised by the Sellers, the senior housing services at the Properties are currently operated by a third-party company. Following Completion, the Group intends to engage another company, which is a third party independent of the Company and its connected persons, for the operation of the senior housing services at the Properties.
INFORMATION OF THE PROPERTIES. SDAD is the registered and beneficial owner of a piece of land held under HS(D) 111073, PT 9 in the Mukim of Damansara, District of Petaling, State of Selangor (“Land”). Pursuant to the Agreement for Development of Land dated 12 October 2006 entered into between SDBH and SDAD, SDAD has granted the rights to SDBH to develop a portion of the Land into, amongst others, the following for commercial use (“Development”) and to sell the Development on the Land:-
INFORMATION OF THE PROPERTIES. Property A comprises 49 properties owned by Beijing Wangangtong with a gross floor area of approximately 7,619 square meters located on 1st to 5th floors of the Building. Property B comprises 75 properties owned by Beijing Wangangtong with a gross floor area of approximately 11,476 square meters located on 6th to 12th floors of the Building. As at the date of this announcement, Beijing Wangangtong is the owner of the BW Building. Based on the latest unaudited management accounts of Beijing Wangangtong as at 31 December 2020, the fair value of the BW Building was approximately RMB1,088 million. Based on the latest unaudited management accounts of Beijing Wangangtong for the financial years ended 31 December 2019 and 2020, the net loss and net profit (before taxation) of Beijing Wangangtong were approximately RMB202 million and RMB40 million respectively, and the net loss and net profit (after taxation) of Beijing Wangangtong were approximately RMB202 million and RMB31 million respectively.
INFORMATION OF THE PROPERTIES. The Properties comprise two senior housing properties located in Michigan, the U.S., which together provide an aggregate of 299 units (as independent living units; assisted living and memory care services which are available to residents through a third-party home healthcare company) with a total rentable area of over 170,000 square feet. Based on the information provided by the Vendors, the overall average occupancy rate of the Properties was over 90% in 2016. Set out below is the key historical financial information attributable to the Properties for each of the two years ended 31 December 2015 and 2016, based on the management accounts provided by the Vendors: For the year ended 31 December 2015 (Note) For the year ended 31 December 2016 (Unaudited) (Unaudited) Revenue US$6,026,000 (equivalent to approximately HK$47,002,800) US$6,889,000 (equivalent to approximately HK$53,734,200) Net operating income US$2,071,000 (equivalent to approximately HK$16,153,800) US$2,430,000 (equivalent to approximately HK$18,954,000) Note: One of the Properties was acquired by the Vendors in February 2015. Accordingly, the financial information attributable to such property for the year ended 31 December 2015 only covers the results for the period from the date of acquisition to 31 December 2015. As advised by the Vendors, the senior housing services at the Properties are currently operated by a third-party healthcare company. Following Completion, the Group intends to continue to engage the existing healthcare company, which is a third party independent of the Company and its connected persons, for the operation of the senior housing services at the Properties.
