Belgian REIT Cofinimmo has acquired four nursing and care homes in Germany, for around €44 mln.
The firm plans to fully refurbish the assets at a cost of €6 mln.
The properties have a total above-ground surface area of approximately 29,000 m2 and offer approximately 430 beds. For all assets, ‘Dach und Fach’ lease agreements with a duration of 25 years were concluded with the operator Curata Care Holding.
According to Cofinimmo, the leases are indexed based on the German consumer price index.
'We are pleased to announce the acquisition of these four nursing and care homes,' said Jean-Pierre Hanin (pictured), CEO of Cofinimmo.
'Cofinimmo will use its real estate know how to improve the sites into future-oriented care facilities. In addition, with Curata Care Holding, we welcome a new operator in our portfolio.'
Hanin added: 'This transaction reflectsthe active continuation of our growth policy in the healthcare real estate segment in Germany.'
