Netherland: Cofinimmo acquires aged care complex in Bergen op Zoom

After an acquisition in Germany last week, Belgian real estate company Cofinimmo is to acquire a healthcare complex in Bergen op Zoom for €46m (US$52m).

Residentie Moermont, on the outskirts of Bergen op Zoom, has more than 220 care units, spread over an above-ground surface area of more than 16,000 square metres.

The building is let to the foundation tanteLouise. The double net lease has a residual lease length of 14 years. The rent will be indexed according to the Dutch consumer price index. The initial gross yield is 5%.

The foundation tanteLouise has 17 nursing and care locations in the West Brabant region and is a major regional player. It is one of the leading healthcare institutions in the Netherlands in the field of innovation and is specialised in care for the elderly. The foundation has more than 2,500 employees and volunteers who provide on-site care to more than 1,150 clients, day care to more than 400 clients and specialised home care.

“From now on we can count a professional and renowned care organisation such as Stichting tante Louise among our partners,” said chief executive Jean-Pierre Hanin.