Belgian healthcare REIT Aedifica delivered five new care properties in the third quarter of the year, and is ready to embark on two more, according to the firm.
Stefaan Gielens, CEO of Aedifica, commented: 'In the third quarter of 2024, Aedifica completed five projects from its investment programme for a total amount of approximately €61.5 mln. This brings the number of completions over the first nine months to a total of 23 projects amounting to approximately €197 mln.'
The projects include two schemes in the UK, namely the development of York Bluebeck Drive, in the city of York, and the forward purchase of Spaldrick House in Port Erin on the Isle of Man. The other schemes include a forward purchase in Tuusula and a development in Kerava in Finland, plus a development in Nynäshamn, Sweden.
The assets add capacity for 202 residents and 644 children to the group’s portfolio. According to the firm, the care properties are operated by a diversified pool of well-established and experienced private and public operators.
Gielens added: 'In the design of these projects, we paid special attention to environmental standards and energy efficiency, contributing to the continued enhancement of our real estate portfolio. Moreover, in the past quarter we added two new development projects to our investment programme in Finland.'
The new schemes in Finland comprise the development of a care home for elderly people in Jyväskylä and a child day-care centre in Kokkola, representing a total investment of around €14 mln and an averaage initial yield of 6.5%. The projects have a total capacity for 61 residents and 172 children respectively. They will be operated by Mehiläinen & Norlandia on 15-year double net leases.
'Both projects will be designed and developed by our Finnish Hoivatilat team,' said Atte Nittylä, CEO of Hoivatilat.
