More foreign investments of Belgian REIT in living real estate

INVESTMENT
Tim Harrup

During recent weeks and months, Belgian real estate companies have been continuing with their activities and acquisitions in other parts of Europe. The three we highlight here are Aedifica, Cofinimmo and Xior.

Aedifica has been pursuing its expansion strategy over recent times with the acquisition of 5 care properties in Finland. These consist of 3 fully operational care properties in Kokkola and development of two new projects in Kangasala and Oulu-Total, and represent a total investment of some € 22 million. Aedifica has also acquired its first large portfolio transaction in Sweden, acquiring 14 residential care properties for persons with disabilities, and will acquire another 2 buildings after completion of construction in 2022. This transaction increases the Swedish portfolio of Aedifica more than threefold from around €20 million to approximately €66 million .

Moving on to Cofinimmo, the company has acquired approximately 95% of the shares of the company owning Celenus Klinik an der Salza a rehabilitation clinic in Bad Langensalza, in Thuringia Land, Germany. The conventional value of the asset for the calculation of the share price amounts to approximately € 22million.The asset is already operated by the Orpea group. Cofinimmo has also entered British healthcare real estate market for the first time with the acquisition of three recent nursing and care homes in East and South-East England for approximately £57 million. The nursing and care homes number approximately 200 beds in total and a total surface area of approximately 9,500 m². The sites are fully leased to Country Court Care Group Limited.

Xior student housing, finally, has announced the purchase of a plot of land with a surface area of approximately 10.140 m2, located at the Selzerbeeklaan 21 in Vaals, the Netherlands near the tri-border area of the Netherlands, Belgium and Germany, in order to develop a brand-new student residence. Vaals is a popular student city which mainly focuses on the growing student population at the German University of Aachen, but is located just across the border in the Netherlands. Thanks to this unique location right at the border, students from Germany can live close to the university while also enjoying the benefits of the Dutch rental subsidy system. In short, Vaals is a prime location, for both local and international students from Germany and the Netherlands.