Foreign acquisitions for Belgian developers

INVESTMENT
Tim Harrup

Starting with the most recent announcement, Atenor has acquired a 5,000m² building located at 186 Avenue Victor Hugo, one of the avenues branching off of the Place de l’Etoile, in the heart of the Central Business District of Paris. The company says it intends to redevelop the existing building to offer a newly restructured, certified office building of the highest quality while retaining the character of the building. The total area of the building makes it possible to offer something rare on the CBD market. This project fits with Atenor's mission to be an international and sustainable urban developer, offering products which respond to the ‘post covid’ situation. This operation also confirms Atenor's goal to strengthen its presence in the office market consolidate the number of projects in the countries where the company is present.

Moving on to the senior homes and healthcare sector, where both Aedifica and Cofinimmo have been active over recent months. Aedifica has completed six care home development projects in the Netherlands, the United Kingdom, Finland and German, at a total investment of around. €57million and a total capacity of 301 residents and 36 children. Aedifica has also decided to invest some £11million in the construction of a care home in Aylesbury, UK. The care home will comprise 61 en-suite bedrooms for seniors requiring continuous care. With this move, Aedifica says it is expanding its collaboration with Maria Mallaband Care Group, an established elderly care home provider.

For its part, and still in healthcare, Cofinimmo has acquired through one of its subsidiaries a plot of land on the Monnikenberg campus in Hilversum (the Netherlands) where a care clinic will be built. The investment budget for both the acquisition of the plot of land and the works, amounts to approximately € 30 million. The building is already pre-let for the long term to Tergooi, which will operate it.

Cofinimmo has also acquired a plot of land in Palma de Mallorca, (the Balearic Islands, Spain). A new nursing and care home will be built on this site. The investment budget in this case for both the plot of land and the works amounts to approximately € 14 million. The site is pre-let to CLECE, one of the country’s largest operators.