Care home specialists Aedifica and Korian have finalized the purchase of six care homes in the Netherlands for around €25 million.
The joint venture acquired the remaining stake (50%) in care homes in Almere, Blaricum, Hengelo, Lelystad, Soest and Woudenberg. The properties are designed to suit the needs of elderly people requiring continuous care and accommodate a total of 235 residents. All six buildings are new, with most being completed in 2022 and 2023.
The operator is Korian Netherlands under the Stepping Stones, Het Gouden Hart and Hestia brands.
Importance of sustainability of care homes
Stefaan Gielens, CEO of Aedifica, says, “Aedifica continues to underpin the quality of its Dutch real estate portfolio by investing approx. €25 million in a portfolio operated by Korian Netherlands. While we initially had a 50% stake in this portfolio, we now become full owner. The portfolio includes six well-run, purpose-built care residences that were recently completed. Moreover, the buildings have excellent energy ratings ranging from A to A++++, contributing to the continued improvement of the sustainability of Aedifica’s real estate portfolio.”
Sustainability was also extensively considered in the construction of this portfolio. Thanks to the installation of energy-efficient systems and the use of renewable energy sources (such as solar panels, sustainable heat network or smart ventilation systems), all buildings have excellent energy ratings.
The six care residences are operated by Korian Netherlands, part of the Clariane Group, a leading European elderly care home operator that is active in Belgium, France, Germany, Italy, Netherlands, Spain and the United Kingdom. The group operates over 1,200 care facilities employing over 70,000 staff in total.
Aedifica and Clariane have a longstanding partnership. The group represents approx. 10% of Aedifica’s contractual rents, operating 28 Aedifica sites in Belgium, 22 sites in the Netherlands and one site in Germany.
The six properties are let on the basis of long-term triple net leases with a WAULT of 19 years. The leases are fully indexed to the consumer price index (CPI). The initial rental yield of this transaction amounts to approx. 6.5%.
Aedifica is a Regulated Real Estate Company under Belgian law specialised in European healthcare real estate, particularly in elderly care. It has a portfolio of over 610 sites in Belgium, Germany, the Netherlands, the United Kingdom, Finland, Sweden, Ireland and Spain, worth more than €5.8 billion.