Belgian property company Cofinimmo announced the closing of the acquisition of four nursing homes with a total of 1,064 beds and 45,000 m[sup]2[/sup] of space in Belgium. The company bought the assets - Damiaan in Flemish Brabant and La Cambre, Schweitzer, Van Zande in Brussels - for EUR 78mln, before deduction of debts taken over and latent capital gain tax. The deal reflects an initial yield of 6.14%, Cofinimmo said in a statement.
Belgian property company Cofinimmo announced the closing of the acquisition of four nursing homes with a total of 1,064 beds and 45,000 m2 of space in Belgium. The company bought the assets - Damiaan in Flemish Brabant and La Cambre, Schweitzer, Van Zande in Brussels - for EUR 78mln, before deduction of debts taken over and latent capital gain tax. The deal reflects an initial yield of 6.14%, Cofinimmo said in a statement.
The nursing homes will be operated by Senior Living Group (SLG) which has leased the assets for a fixed term of 27 years. The agreement also includes a purchase option at the end of the lease at prevailing market conditions. SLG currently operates 10 nursing homes owned by Cofinimmo.
Last week, Cofinimmo also announced the closing of the acquisition of the Omega Court building in Brussels for EUR 41.5mln.
