Aedifica has purchased three senior housing sites in the Netherlands for around €73 mln.
The assets total 446 units and are located in Eindhoven in North Brabant and Heerlen in Limburg. The initial yields for the existing buildings amount to approximately 5.5%. The operation will be financed via Aedifica's credit facilities.
'Aedifica recently established itself in the Netherlands as a healthcare real estate investor with a long-term vision, as it has done in Belgium and Germany. We look forward to taking another important step in the development of our Dutch portfolio, with the addition of these three sernior housing sites,' commented Stefaan Gielens, Aedifica's CEO. He added: 'This addition marks Aedifica's entry in the independent living market in the Netherlands as well as its first collaboration with a Dutch not-for-profit operator.'
The operator of the three sites is Stichting Vitalis Residentiele Woonvormen, part of the Vitalis WoonZorg Group, which has been active in sernior care since 1969, mostly in the Eindhoven area. The leases established are 15-year triple net long leases (irrevocable by the operator).
The Heerlen property has a capacity of 263 units, while the two assets in Eindhoven have 139 and 44 units respectively.
Stibbe, the specialist Benelux law firm, provided legal support to Aedifica during the transaction process.
