Belgium: Cofinimmo continues spree in Belgium

Cofinimmo really is unstoppable at the moment. The acquisition-hungry Belgian real estate company has acquired the La Chartreuse nursing and care home in Liège/Luik for €29m (US$34.4m).

This acquisition follows that of four nursing and care homes in Flanders and Brussels for €95m announced at the beginning of the month. The company said that the transaction had not been included previously due to a right of pre-emption.

La Chartreuse offers 150 beds and 30 assisted-living units. The site is operated by the Vulpia group in the context of an indexed triple net lease, with a residual lease length of 23 years.

Vulpia is a service provider in the healthcare sector with nursing and care homes and assisted-living units spread throughout Belgium. It employs 2,500 people and operates 4,500 rooms and 600 assisted-living units.