La Française Real Estate Managers (REM) has invested an undisclosed sum to buy a care home asset in Belgium from AG Real Estate.
La Française, which is investing on behalf of a collective real estate investment vehicle, said it has bought the shares of RDV Invest, the company that owns the De Veldekens building located at Grote Weide 2 in Berchem in Antwerp.
Built in 2008, the property consists of a single L-shaped building with 5 upper floors. The 7,251sqm property is currently operated, under a long-term lease, by Belgian care home operator Vulpia.
Jérôme Valade, the head of healthcare real estate at La Française REM, said: “De Veldekens is one of the few privately operated care homes in the area and is widely considered a quality care home given the variety of amenities, the good property maintenance and the competitive financial offer.
“In addition to the quality of the operator and the asset itself, restrictions on new care-home openings which are subject to licenses in Flanders until 2025, is very positive from a market positioning perspective and should contribute to ensuring a sustainably high occupancy rate over the long term.”
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