Belgian real estate company Cofinimmo has acquired the ‘Kastanjehof’ nursing and care home from Triodos Vastgoedfonds for €4 million (US$4.6 million). The home is located in a residential area of Velp, five kilometres from Arnhem, in Gelderland.
“This acquisition fits into our strategy of increasing the share of healthcare real estate in our portfolio in the coming years, while paying close attention to the ecological footprint of our buildings,” said chief executive Jean-Pierre Hanin.
The building, built in 2012, has an above-ground surface area of approximately 1,800 square metres and houses 30 residents. It also carries an A++ energy performance certification. The building is designed and fully equipped for residents suffering from dementia and/or disorientation.
The building is leased to Stichting Attent Zorg en Behandeling, with whom Cofinimmo has signed a double net lease for a residual term of nine years. The rent will be indexed annually in accordance with the Dutch consumer price index. The gross rental yield amounts to roughly 5.5 %.
Healthcare real estate makes up 52.7% of the group portfolio, which now stands at €3.7 billion. The group’s portfolio value was up 6.3 % last year.
“2018 ended with solid results, higher than forecasted, and with an improved occupancy rate. We have invested €300 million exclusively in healthcare real estate, i.e. approximately three times the amount Cofinimmo has invested annually in this sector in recent years. This acceleration illustrates our will to consolidate our leadership in European healthcare real estate,” said Hanin at the release of his annual results yesterday.