Belgian property firm Cofinimmo has announced the acquisition of €105 mln of healthcare real estate across six sites in Belgium.
The deals, which will be paid for with shares, involve 38,000 m2 of facilities in Ten Berge Belsele (East Flanders), Dilhome Dilbeek (Flemish Brabant), Puthof Borgloon (Limburg), Keiheuvel Balen (Antwerp), Serrenhof Sint-Truiden/ Saint-Trond (Limburg) and Eden Park Aalst/Alost (East Flanders), for a total of 562 beds.
‘These operations demonstrate that, in addition to the geographic diversification and expansion operated in recent years, we are recognised and appreciated in our first home market,’ said Jean-Pierre Hanin, CEO of Cofinimmo. ‘This transaction is important, and relates to recent buildings. Moreover, we welcome a new operator in our portfolio, Orelia Zorg, who has over 40 years of experience in both the construction and operation of nursing and care homes. Finally, we are strengthening our equity by almost €99 mln, which can be used to finance further investments. Together with the results of the optional dividend, this represents a strengthening of equity of almost €145 mln in two days.’
The assets boast triple net lease agreements with a 27-year term, providing an initial gross yield of 4.5%.
