Fidelity International has bought two care home complexes in the Netherlands on behalf of its eurozone real estate fund.

The manager has invested €30.5m on behalf of the Fidelity Eurozone Select Real Estate Fund to buy the buildings from Warande Foundation via a sale and leaseback deal.

The buildings, the De Loericker Stee in Houten and the Schutsmantel in Bilthoven, comprise a total of 175 care apartments.

Maarten Frouws, investment manager, at Fidelity International, said: “This is a thematic investment in a growth market linked to the ageing population.

”The investment market for this sector has been growing and becoming more institutionalised for years. Supply is limited, yet international demand for this type of investment opportunities remains substantial.”

Harry Finkenflügel, CEO of Warande Foundation said: “In coming years, we will be looking to renovate Warande’s existing properties and build new ones. With this sale, we can now achieve this in a relatively short space of time.

”In Fidelity, we have found a partner that will support us to achieve our strategic property plans, namely creating apartments that meet the requirements of our target group.”

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