Aedifica make first Dutch investment with healthcare sites (NL)


Aedifica’s European investment strategy has reached a new milestone following the acquisition of four senior housing sites in the Netherlands for around €22m.


The portfolio comprises four small-scale exclusive residential care facilities in a high-end market segment and is oriented toward seniors requiring on-going assistance.


The Holland care residence is located in Baarn, Utrecht situated in a historical villa area, next to the central park. The site consists of two historical buildings – both protected monuments – which were entirely renovated in 2014/2015 to accommodate 34 residents. The Benvenuta care residence is located in Hilversum, North Holland in a residential area near the town centre. The building is a protected monument that was redeveloped in 2009 to accommodate 10 residents. Also in Hilversum, the Walgaerde care residence will undergo an interior refurbishment expected in 2016 or 2017, after which the building will accommodate 15. The Molenenk care residence is currently under construction in Deventer; the building will be completed in 2017 and will house around 40 residents.


Aedifica SA recently established a Dutch company, Aedifica Nederland BV (a 100 % subsidiary of Aedifica SA) to carry out the investments. Holland and Benvenuta were acquired on 29 February 2016 at a contractual value of approximately €15m. The plot of land for Molenenk was acquired on 29 February 2016 at a contractual value of approx. €3m, concluding a turnkey realisation and completion agreement with DS Group BV for the future construction of the building for a fixed price of approximately €7m. A private purchase agreement was established for the acquisition of Walgaerde following completion of the transformation works. The price will be paid at completion with a contractual value of approximately €4m.


Stefaan Gielens, CEO of Aedifica, commented: "Investing in the healthcare sector in The Netherlands is the logical next step for Aedifica in rolling out its investment strategy in Europe. This strategy is focused on the needs that result from the ageing population, especially with respect to senior housing. The Netherlands presents a significant investment opportunity in this domain. The growth and the consolidation of private healthcare operators has recently begun and, as in other European countries, the role and significance of specialised healthcare real estate investors will undoubtedly increase, in the private sector as in other sectors. Today, Aedifica enters The Netherlands with a long-term vision, as it has done in Belgium and Germany already."


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