Cofinimmo acquires Dutch elderly care asset

Belgian healthcare REIT Cofinimmo has acquired an elderly care asset in the Netherlands, via a subsidiary, for more than €22 mln.

The Nebo healthcare site in The Hague was built in 2004, and has around 115 beds. Cofinimmo has taken over the lease agreement with operator Saffier, via its subsidiary Superstone.

'This transaction perfectly fits in the growth strategy of our group,' said Jean-Pierre Hanin, CEO of Cofinimmo.

'Moreover, with Saffier, we welcome an experienced operator with a very long history and extensive expertise in rehabilitation and care for the elderly.

'Our healthcare real estate portfolio in the Netherlands represents today almost €240 mln. Our objective is to continue our growth in this country where the need for housing and care for elderly people is growing rapidly,' Hanin added.

The structure comprises an above-ground surface of almost 8,700 m2, and offers care for the elderly disoriented people and for elderly people who are physically unable to take care of themselves.

Cofinimmo said that the initial gross yield is 5%, reflecting the quality of the location.

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