Aedifica is pleased to announce an agreement for the acquisition of a senior housing site in Germany. The agreement for the acquisition of this site by Aedifica is subject to the usual outstanding conditions in Germany, which are mainly of administrative nature and which should be fulfilled during the fall of 2017. The purchase price will be paid and the property and full use of the building will automatically be acquired at that time. The contractual value amounts to approx. €6m.
Seniorenresidenz an den Kienfichten is located near the centre of Dessau-Rosslau (83,000 inhabitants, State of Saxony-Anhalt) within a large private park. The site comprises a villa which was completely renovated in 2009, and a new building that was completed at the beginning of the year. The site has a capacity of 88 units, including 62 units serving seniors requiring continuous care (“Pflegeheim”, situated in the new building) and 26 units serving seniors opting to live independently with access to care services on demand (“betreutes Wohnen”, situated in the villa).
The site is operated by Cosiq, a private German player on the senior care market. Cosiq currently operates 3 sites in Hessen and Saxony-Anhalt and will operate additional sites in the near future.
Stefaan Gielens, CEO of Aedifica, commented: "Following its recent co-operation agreement for the acquisition of seventeen rest homes in Germany, Aedifica is pleased to further expand its healthcare real estate portfolio in Germany with the acquisition of a residential care facility. The facility serves seniors requiring continuous care as well as seniors opting to live independently with care services available on demand. The acquisition of this site, which is already operational, marks the beginning of a co-operation with a new operator. Other investments will follow.”