Cofinimmo acquires the companies Maison Saint-Ignace and Epris for €33.4 million (BE)

Cofinimmo has announced having acquired all shares of the SA/NV Maison Saint-Ignace, and SA/NV Epris, owners of the nursing homes Saint-Ignace and Lucie Lambert located in Brussels - Limalaan 18-20, and in Buizingen (Flemish Brabant) -Nachtegaalstraat 211, respectively.

The two nursing homes have a total area of approximately 14,000m² and accommodate 299 authorized beds.

The properties are valued at €33.4 million, in line with the investment value determined by the independent real estate expert. They will offer an average gross rental yield of 6.43% in double net equivalent.

Cofinimmo concluded triple net long term leases for both properties implying that all the costs, including those relating to the property structure, are borne by the operator.

The nursing home Saint-Ignace is let to the operator Senior Assist SA/NV, a Cofinimmo client since 2007.

The nursing home Lucie Lambert will be operated by Orpea Belgium SA/NV. Hence, Cofinimmo also welcomes a new Belgian nursing home operator, diversifying its pool of tenants/operators in the healthcare segment. At the end of October 2010, the Orpea Group acquired a capital stake in the Mediter Group (100%) and in Medibelge (49%) (see, both existing tenants/operators of Cofinimmo.

Orpea enjoys an excellent reputation on the Belgian and French markets in which Cofinimmo is active, both from a financial as from an operational point of view.

Source: Cofinimmo

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