Belgian healthcare REIT Aedifica has invested €126 mln in two care home portfolios in island locations across Europe.
The first deal is for a €69 mln portfolio including five care homes in Jersey and the Isle of Man. The second deal, for €57 mln, comprises three care homes in Ireland.
The five care homes of the Jersey and Isle of Man portfolio comprises two modern, purpose-built care homes, two conversions from former hotels and a long standing care campus.
Three of the sites will undergo extension and internal redevelopment works to provide additional bedrooms and communal living areas. These extension works are expected to be completed in the course of 2023. Upon completion of the works, the five care homes will accommodate 283 residents in fully en-suite single bedrooms.
Said Stefaan Gielens, CEO of Aedifica: 'Thanks to this acquisition, we continue to expand our collaboration with the Emera Group, an established European care operator with a proven operating model.'
Added Bruce Walker, country manager of Aedifica UK: 'This transaction will further strengthen our position and visibility in the British market, increasing our portfolio in the UK (including the Crown Dependencies Jersey and Isle of Man) to over €1 bn upon completion of all development projects.'
The three care homes in Ireland were completed during the first quarter of 2022 and are situated in residential areas in Dundalk, Duleek and Riverstick. The care homes accommodate up to 346 residents in spacious en-suite bedrooms specifically tailored to suit the needs of elderly people requiring continuous care.
According to Aedifica, during construction of the care properties, special attention was paid to environmental standards and investments were made in energy-efficient systems. The buildings have an ‘A3’ Building Energy Rating (BER), contributing to the continued improvement of the sustainability of Aedifica’s real estate portfolio.
Said Gielens: 'This transaction will further strengthen our position and visibility in the Irish market, increasing our portfolio in Ireland to nearly €270 mln upon completion of all development projects.
'In the design of the three care homes, special attention was paid to energy efficiency, delivering on our sustainability commitments. Thanks to this acquisition, we start a new collaboration with an established care home operator in Ireland, Silver Stream Healthcare.'
