Belgian healthcare REIT Aedifica has unveiled plans to invest €47 mln in the renovation and/or redevelopment of Belgian care homes in its portfolio, operated by Orpea.
The redevelopment projects will be undertaken with a focus on social and environmental sustainability.
Stefaan Gielens, CEO of Aedifica, commented: 'Aedifica is investing approx. €47 mln in the redevelopment of eight care homes in Brussels. These are buildings that Aedifica acquired in 2006 and 2007, including some of the very first care properties that Aedifica acquired.
'Thanks to this investment, we will improve these buildings’ sustainability. High-quality care can therefore be guaranteed in anticipation of the ageing wave that we expect – in Brussels – from 2026 onwards.
'After having previously closed an agreement in 2020 with the German operator Vitanas for the acquisition and repositioning of several existing care homes (mainly) in Berlin, we are today starting a similar futureproofing project with Orpea for eight Brussels care properties from our portfolio.
'The repositioning of existing healthcare real estate offers Aedifica significant development potential for the future (in terms of upgrading its own portfolio but also as a source of new acquisitions). After all, the real estate challenges of the healthcare sector in Europe in terms of renovation, redevelopment and future-proofing of existing care properties are considerable.'
The works include the complete redevelopment of the Résidence Palace site in Uccle. Elsewhere, refurbishments will see the creation of new care wards and common living areas, the renovation of bathrooms and the optimisation of wheelchair access.
Sustainable improvements will include the installation of energy-efficient systems such as solar panels and cogeneration (CHP) units; the installation of new windows; the replacement of insulation, and the installation of new ventilation systems to optimise air circulation.
Works will start in the first quarter of 2022 and will last between two and four years, depending on the care home, in order to limit the impact on the residents.
Stéphanie Lomme, country manager of Aedifica Belgium, said: 'We are very pleased to be working closely with Orpea, a leading player in the elderly care sector, on this redevelopment project.
'Through our combined experience, we can offer the elderly in Brussels sustainable care homes that enhance the residents’ care experience.'
