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Foreign healthcare attracts more Belgian investment

Image: Matthias Zomer
Image: Matthias Zomer

There is more news of activity by Belgian companies outside of the country. And these new transactions confirm the important place now occupied by healthcare and associated domains in the real estate industry.

Firstly, Cofinimmo has acquired the ‘Residentie Moermont’ healthcare complex in Bergen op Zoom in the Netherlands for 46 million Euros. Jean-Pierre Hanin, CEO of Cofinimmo, states: “We continue to expand our healthcare real estate portfolio in the Netherlands with high-quality and sustainable buildings. This portfolio of a value of almost 350 million Euros today comprises more than 40 assets within an extensive healthcare spectrum, of which more than 80% holds minimum a B-level energy label. The acquisition of ‘Residentie Moermont’ with an A-level energy label therefore perfectly fits within this ‘best-in-class’ portfolio. Moreover, from now on we can count a professional and renowned care organisation – ‘Stichting Tante Louise’ – among our partners.”

The second company to be moving in the same direction is Aedifica, with news of two acquisitions in different countries. The company has added 10 new elderly care homes, children day-care centres and specialist care homes at 7 locations, to its development pipeline in Finland. The total investment is announced to be around 51million Euros at an average yield on cost of approximately 6.5%. Aedifica’s CEO Stefaan Gielens, comments: “The Aedifica group is pleased that Hoivatilat (its Finnish arm – ed.) is continuing the expansion of its healthcare real estate portfolio in Finland with several new projects. We will invest approximately 51million Euros in the development of four elderly care homes, three children day-care centres and three specialist care homes, with a total capacity for 305 residents and 260 children. These projects highlight the continued appetite of Finnish cities and municipalities for Hoivatilat’s service model. As demand for Hoivatilat’s care properties remains high, we look forward to further developing the Group’s activities in Northern Europe.”

The second of Aedifica’s moves is in Congleton, in the Derbyshire countryside in north west England. It has announced the forward purchase of a new care home here, subject to certain conditions and with an investment in the region of 13million Euros. The centre, operated by Handsale, will have a capacity of 80 units and provide Aedifica with a net rental yield of 6%. Its expected completion date is the first quarter of 2021. Stefaan Gielens says that this operation marks a new collaboration between Aedifica and an established elderly care home provider.”


Tim Harrup
31-07-2020
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