Brussels-headquartered REIT Cofinimmo has acquired two nursing and care homes in Bavaria and Baden-Württemberg
in Germany for €29 mln.
The Belgian firm said it would issue 238,984 new ordinary shares to fund the deal, within the framework of a private placement with institutional investors.
'We are pleased to announce the acquisition of these two nursing and care homes in Bavaria and Baden-Württemberg. As a result, we strengthen our equity,' said Jean-Pierre Hanin, CEO of Cofinimmo.
'Moreover, with Domus Cura, we welcome a new operator in our portfolio. These transactions reflect
the active continuation of our growth policy in the healthcare real estate segment in Germany,' Hanin added.
The assets were acquired through Cofinimmo's subsidiary Gecare 1, and comprise a 5,900 m2 property with 110 beds in Ingolstadt, where a planned investment of around 1 mln will extend the offer to 125 beds across 6,500 m2. Currently leased to operator Diakonie Ingolstadt for another two years, a new tenancy has been agreed with Domus Cura from May 2021 lasting 25 years.
The other property, located in Neunkirchen, currently covers 3,000 m2 and has 70 beds. Planned works costing 4 mln will extend the property to 4,500 m2 and 97 beds. The lease, with 25 years remaining, is with Pflegewohnpark Glück im Winkel Betriebsgesellschaft, a subsidiary of Domus Cura.
