European healthcare real estate investment trust Aedifica has sold its entire Swedish portfolio, consisting of five preschools and one school for SEK454m (€40.7m).
This sale is part of Aedifica’s plan to sell its entire Swedish portfolio, following the disposal of 22 residential care centres last month. Following the latest sale, expected to be completed by the end of the month, the listed firm will have fully exited the Swedish market.
Stefaan Gielens, CEO of Aedifica, said: “We decided to divest the Swedish portfolio because its contribution to the group’s EPRA earnings is limited compared to other segments, thus allowing for a capital recycling opportunity.
“This divestment gives us extra firepower to pursue new investment opportunities and refill our development programme. The proceeds of the disposal will be reinvested in the coming months and enhance earnings per share.”
Aedifica has a portfolio of 635 properties in Belgium, Germany, the Netherlands, the UK, Finland, Sweden, Ireland and Spain, worth more than €6.2bn.
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