Belgium's Aedifica inks sale of €200m of residential assets in strategic refocusing

Belgian REIT Aedifica has agreed the sale of its residential portfolio worth around €200 mln as part of plans to focus exclusively on the healthcare sector.

Aedifica said it will transfer the residential business to a new subsidiary with a strategic partner taking up to a 75% shareholding in the new unit. The deal values the assets at a premium of 7% to the latest book value of €196 mln at year-end 2017.

The agreement is subject to usual outstanding conditions, including successful due diligence.

'The transaction fits perfectly within the strategic development of Aedifica as a pure play healthcare real estate investor and allows the company to pursue growth in its core activities through capital recycling', the company said in a statement.

Aedifica owns a €1.7 bn portfolio in Belgium, Germany and the Netherlands.


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