Aedifca inks German deals as spending blitz continues

Belgian healthcare REIT Aedifica has signed nearly €20 mln of deals in Germany as it ramps up its care portfolio in the country, bringing its three month deal total to some €194 mln.

The Brussels-listed firm has acquired a healthcare site to be constructed in Wurzen, Saxony, for €7 mln, and completed a care campus in Schwerin, Mecklenburg-Western Pomerania, for €12 mln.

Aedifica continues the expansion of its German healthcare real estate portfolio with two new sites for an amount of approximately €19 mln,' said Stefan Gielens, CEO of Aedifica.

'We have acquired a new healthcare site that will be added to our portfolio upon completion of the construction works in the course of 2021. Furthermore, the second care campus from the cooperation agreement with Specht Gruppe has been completed. Other investments will follow.'

The Wurzen site will comprise 73 units and represents an initial gross rental yield of 5.5%. The operator of the asset will be Seniorhaus Lessingstrasse on a 25-year double net lease.

The Schwerin campus, comprising 87 units, represents an initial gross rental yield of 5.5%. The operator is Emvia Living on a 30-year double net lease including a triple net warranty for maintenance.

Aedifca successfully completed a €418 mln capital increase in May, the largest ever in the history of the Belgian regulated property sector. Since then, and including the most recent purchases, it has completed €194 mln of investments, including standing assets and pipeline projects.

The REIT said that further investments were under consideration.

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