Belgian REIT Cofinimmo has agreed to acquire two nursing and care homes in Essenheim and one nursing and care home in Bruchmühlbach-Miesau, in the Land of Rhineland-Palatinate, Germany, for a total of €39 mln.
The three assets are currently in operation and managed by Alloheim and Orpea, two major operators in Germany. They have a weighted average lease term of 16 years, for a gross rental yield of nearly 5%.
‘The acquisition of these three nursing and care homes fits perfectly within our growth strategy in the German healthcare real estate sector. It also enables us to reinforce our collaboration with our partners Alloheim and Orpea, two major players in the healthcare sector with whom we have been working for many years in Germany and in other European countries where we are active,’ commented CEO Jean-Pierre Hanin.
In addition, Cofinimmo has announced plans to build a new nursing and care home in Andalusia, southern Spain. The site is pre-let to the Amavir group under a 25-year lease term.
