Belgian property investor Cofinimmo has acquired nine nursing homes and 25 hectares of land by the acquisition of 100% of the shares of the property activities of nursing home operator Van den Brande Group for an undisclosed sum. The company said the nursing homes have 809 beds and total floor space of 46,000 m[sup]2[/sup]. The extra land will be used to build a further six homes, taking the total number of beds to 1,152, and the total investment value to EUR 105.92 mln. Cofinimmo said the investment will generate an indexed initial gross rental yield of 6.3%.
Belgian property investor Cofinimmo has acquired nine nursing homes and 25 hectares of land by the acquisition of 100% of the shares of the property activities of nursing home operator Van den Brande Group for an undisclosed sum. The company said the nursing homes have 809 beds and total floor space of 46,000 m2. The extra land will be used to build a further six homes, taking the total number of beds to 1,152, and the total investment value to EUR 105.92 mln. Cofinimmo said the investment will generate an indexed initial gross rental yield of 6.3%.
The nursing homes will be operated by Palmir and Cofimmo has closed 27-year leases with the company.