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Belgian players increase foreign care centre portfolios

The Brunswick centre increases the number of units held by AG in Germany to 24.
The Brunswick centre increases the number of units held by AG in Germany to 24.

As part of our occasional look at what some of our major real estate players are doing outside of Belgium, we report on transactions by AG Real Estate and Aedifica in the ‘care centre’ segment.

Firstly, AG Real Estate has announced that along with Luxembourg life insurance company Cardif Lux Vie, it has acquired a care home in Germany. This is located in Brunswick (Braunschweig) in Lower Saxony in a green and central position close to the museum parks. The property extends to a fraction over 10,000 m² divided into two parts. The first of these is a property dating from 2008 in which are to be found 130 beds. The remaining, smaller, part of the complex is a historical building dating from the 19th century, totally renovated in 2008, which accommodates 33 serviced apartments a care education unit and a day centre. The complex is leased to Medi-Terra, a large private not-for-profit company from the region which is already active in the care domain. There is a long term lease of 18 years in place.
With this acquisition, AG Real Estate increases the number of care centres in its German portfolio to 24 units, with 2,950 beds and 195 serviced apartments.

Turning to Aedifica, CEO Stefaan Gielens explains a recent move: “The Aedifica group has set foot in Sweden following the completion of two brand-new specialist residential care centres in Uppsala and Heby. We have invested approx. 39 million SEK in the construction of both properties and have already lined up a development pipeline of several new projects, some of which will be completed later this year. Our Swedish pipeline currently includes specialist residential care centres and children day-care centres, but in the future also elderly care homes will be added”.
Tim Harrup
26-05-2020


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