Major acquisition by Cofinimmo for the development of healthcare campuses in Germany

HEALTHCARE
Tim Harrup

Cofinimmo is continuing its international expansion, and in particular in Germany. The company has announced that it has signed an agreement to acquire the companies set to develop eight eco-friendly healthcare campuses in North Rhine-Westphalia. The total conventional value of this transaction will amount to approximately 250 million Euros. Works on the first project, in the city of Erfstadt, will begin before the end of the year. The other projects will start in the subsequent quarters. The eight projects will have a total of around 1,100 units.
Jean-Pierre Hanin, CEO of Cofinimmo, states: “This important transaction is perfectly in line with our strategic priorities in Europe in general and in Germany in particular.Moreover, with Schönes Leben Gruppe, we welcome a visionary new partner as operator…. The sustainability of the buildings guarantees a long lifecycle in the current and future environment.

In addition to the purchase transaction, an exclusive cooperation agreement has been signed with the design and project management office responsible for project design and follow-up of works. This future operator of the projects is the Schönes Leben Group which is just three years old. The Schönes Leben group (which translates as ‘Good Life’) thus offers a platform of services for the over 65’s looking for a happier and more dynamic life. It has developed its own residential care concept. Within this integrated model, various complementary care services are provided to residents with very different care needs. Residents who live on campus receive a range of care services that evolves with their care dependency. Thanks to the coordination and integration of these services, most residents are able to stay in their own home environment for a very long time. The campus also often provides residential care centres for these residents who can no longer be cared for through home or day care. The group is active across large parts of Germany.