Cofinimmo Group has acquired a nursing and care home in Germany and two medical office buildings in the Netherlands for a total of €24.2 mln.
The deal brings the total investments made since Cofinimmo's capital increase in May 2015 to €276 mln.
'As a result of these investments, the group's healthcare real estate portfolio in Germany and the Netherlands amounts to €260.4 mln, with initial gross rental yields between 5.9% and 8.0% and lease lengths ranging from 15 to 30 years,' commented Jean-Edouard Carbonnelle, CEO of Cofinimmo. 'Cofinimmo intends to develop this part of its portfolio by optimising the balance between the technical quality of the buildings, the nature of the occupants' activities, lease terms, ground value and rental yields.'
The €9 mln German property, its sixth acquisition in the country, represents its second German nursing and care home. The historical 8,400 m2 building was fully refurbished in 2007 and is located in Chemnitz, in the western part of Saxony. It comprises 94 beds and 17 service flats, leased to German operator Azurit Rohr – Natürlich Leben im Alter on a double-net, 25-year lease.
In the Netherlands, a 2,500 m2 medical office building in Tilburg purchased for €6 mln and another medical office in Uithoorn, priced at €9 mln and comprising 3,900 m2, complete the deal.
The latter property was acquired from the Stichting Ziekenhuis Amstelland foundation. Both of the Dutch assets are managed by Maron Healthcare.
