Belgian healthcare investor Aedifica has acquired a modern care campus in Geel, Belgium for €39 mln from the project's developer.
The net rental yield is around 4.5% and Aedifca executed the deal through a contribution in kind, issuing 435,596 new shares.
The mixed density Klein Veldekens site comprises 132 units for residents requiring different levels of care across three buildings, operated by Astor VZW. The campus has been constructed adjacent to 18 houses for the elderly and a specialist residential care centre for disabled persons which do not form part of the transaction.
Stefaan Gielens, CEO of Aedifica, commented: 'We are very pleased about the acquisition of a state-of-the-art care campus in Belgium. With this project, we show that Aedifica is investing in the development of new, innovative residential care concepts that meet the evolving expectations of the elderly and the current challenges in the care sector with a focus on flexibility and small-scale residential groups.
'The site has just been completed and uses the latest infrastructure and building materials in terms of sustainability. This acquisition marks the start of the collaboration with a new non-profit operator. Other investments will follow.'
The newly issued shares bring the total number of Aedifica shares to 27,496,869 and will be listed on Euronext Brussels and Euronext Amsterdam. They were issued following a capital increase by the board within the framework of the authorised capital.
