Aedifica, a 100 % subsidiary of Aedifica SA/NV, acquired the full property of the site from Woudenburcht, a local real estate developer. The contractual value of the site amounts to c. €2m. The construction will be carried out by Legemaat van Elst according to a design by Arcom Partners and delivered turnkey to Aedifica. Aedifica’s total investment (including the renovation) will amount to approx. €6m. The operation will be financed using Aedifica’s credit facilities.
The future Het Gouden Hart van Leersum care residence will benefit from an excellent location in the centre of Leersum (8,000 inhabitants, Province of Utrecht). The site features a former town hall which will be entirely redeveloped into a modern residential care facility serving the middle to high-end market segment, oriented toward seniors requiring on-going assistance. The site will have a capacity of 26 units. Aedifica has budgeted approx. €4m for renovation works. Completion of the works is expected during the first quarter of 2018. The purchase price was undisclosed.
The care residence will be operated by Het Gouden Hart, a Dutch operator that has been active in the private senior care market since 2005. The group currently operates two of Aedifica’s other sites. The lease established for this site is an irrevocable 20-year triple net long lease. The initial gross yield amounts to approx. 6,5 %.
Stefaan Gielens, CEO of Aedifica, commented: "Shortly after its recent capital increase, Aedifica is pleased to announce a new investment in healthcare real estate. This investment in a new care residence to be constructed, in close cooperation with one of Aedifica’s existing partners as its operator, shows the strength of Aedifica’s investment model, which aims to develop stable relationships with its operators. Other investments will follow.”
