Aedifica will invest c. €7m in the construction of a brand-new care residence in Dordrecht, the Netherlands. Martha Flora Dordrecht will be constructed in a residential area of Dordrecht (119,000 inhabitants, Province of South Holland), at walking distance of a park. The care residence is specifically tailored to suit the needs of seniors requiring continuous care and will accommodate 28 residents. The construction works will start soon and are expected to be completed in the second quarter of 2021. The building will use energy-efficient systems, such as a seasonal thermal energy storage installation, contributing to the continued improvement of the sustainability of Aedifica's real estate portfolio. The care residence will be let on a new irrevocable 25-year triple-net long lease. Upon completion of the works, the initial gross yield will amount to approx. 5.5%.
The company has also completed works at the Het Gouden Hart Harderwijk healthcare site located in a green, residential area near the centre of Harderwijk. This residential care facility accommodates 45 residents: 25 seniors requiring continuous care and 20 seniors opting to live independently with care services available on demand. The building is operated by Het Gouden Hart (part of the Korian group). Aedifica’s total investment amounts to approx. €10m. The healthcare site is let on a new irrevocable 25-year triple-net long lease. The initial gross rental yield amounts to approx. 5.5%.
Aedefica has also completed the Sorghuys Tilburg care residence located in Berkel-Enschot, part of Tilburg. This residential care facility catering to seniors requiring continuous care accommodates 22 residents and is operated by Senior Living (part of the Korian group). Aedifica’s total investment amounts to approx. €4 million (i.e. approx. €1 million for the plot of land and approx. €3 million for the works). The care residence is let on a new irrevocable 25-year triple-net long lease. The initial gross rental yield amounts to approx. 6%.
Stefaan Gielens, CEO of Aedifica, commented: “Aedifica will invest approx. €7m in a brand-new care residence in Dordrecht that will house 28 seniors requiring continuous care. The project is expected to be completed in the second quarter of 2021. In addition, in February and March, two healthcare sites were completed in the Netherlands, accommodating almost 70 elderly people.”