Cofinimmo has acquired two nursing homes in Belgium valued at EUR 33.4 mln. The Brussels-listed real estate company said the transactions are in line with the investment value determined by an independent real estate expert.
Cofinimmo has acquired two nursing homes in Belgium valued at EUR 33.4 mln. The Brussels-listed real estate company said the transactions are in line with the investment value determined by an independent real estate expert.
The Saint-Ignace and Lucie Lambert nursing homes will offer an average gross rental yield of 6.43% in double net equivalent.
Cofinimmo concluded triple net long term leases for both properties implying that all the costs, including those relating to the property structure, are borne by the operator.
The investment transaction involved the acquisition of Maison Saint-Ignace and Epris, the owners of the nursing homes.
Saint-Ignace is located in Brussels and is let to the operator Senior Assist, a Cofinimmo client since 2007.
Lucie Lambert, located in Buizingen, Flemish Brabant will be operated by Orpea Belgium. 'Hence, Cofinimmo also welcomes a new Belgian nursing home operator, diversifying its pool of tenants-operators in the healthcare segment,' the listed Belgian real estate company said.
At the end of October 2010, Orpea Group acquired a capital stake in the Mediter Group (100%) and in Medibelge (49%), both existing tenants-operators of Cofinimmo.
Cofinimmo owns a property portfolio worth over EUR 3 bn, representing a total area of 1,700,000 m2. Its main investment segments are office property and care homes.
Cofinimmo is an independent company, which manages its properties in-house. It is listed on Euronext Brussels (BEL20) and benefits from the Belgian fiscal Sicafi regime and the French SIIC regime.
