PRESS RELEASE
26 January 2021 - after closing of markets
Under embargo until 17:40 CET
AEDIFICA
Public limited liability company
Public regulated real estate company under Belgian law
Office: Rue Belliard 40 (box 11), 1040 Brussels Enterprise number: 0877.248.501 (RLE Brussels) (the 'Company')
Aedifica and Korian invest in the construction of care residence
in the Netherlands
- Acquisition of a care residence to be constructed in Blaricum (Netherlands) by the joint venture between Aedifica and Korian
- Total investment: approx. €8 million (50% financed by Aedifica)
- Capacity: 29 residents
- Initial gross rental yield: approx. 5.5 %
- Operator: Korian group under the Stepping Stones label
- Expected completion date: Q2 2022
Stefaan Gielens, CEO of Aedifica, commented: "Aedifica and Korian are expanding their joint venture's portfolio in the Netherlands and will invest approx. €8 million in the construction of a brand- new care residence in Blaricum. We are very pleased to further expand our cooperation with the Korian group, which we announced in December.Thanks to our combined experience, even more elderly people in the Netherlands will be able to benefit from sustainable and innovative care concepts that put residents centre stage and give them the space to receive care in the way they prefer."
Eric Scheijgrond, Country Manager of Aedifica Netherlands, adding: "This care residence will provide a new home for 29 elderly people requiring continuous care. In the design, special attention was paid to environmental standards and the energy efficiency of the building. In addition, we used natural building elements as much as possible. The project is expected to be completed in the second quarter of 2022."
1/6
PRESS RELEASE
26 January 2021 - after closing of markets
Under embargo until 17:40 CET
Aedifica and Korian are investing approx. €8 million in the construction of a care residence in Blaricum (NL).
Stepping Stones Blaricum (drawing) - Blaricum
Description of the site
Stepping Stones Blaricum1 will be constructed in a green, residential area in Blaricum (10,000 inhabitants, Province of North Holland). The care residence is specifically tailored to suit the needs of elderly people requiring continuous care and will accommodate 29 residents. The building will use energy-efficient systems, such as solar panels and a thermal energy storage installation, resulting in a class A energy label and contributing to the continued improvement of the sustainability of Aedifica's real estate portfolio. The project was designed by HD architecten and will be carried out by the HD group. Construction works will start in February and are expected to be completed in the second quarter of 2022.
1 Address:Jufferlaan 2, 1262 BB Blaricum (Netherlands)
2/6
PRESS RELEASE
26 January 2021 - after closing of markets
Under embargo until 17:40 CET
Stepping Stones Blaricum (drawing) - Blaricum
Description of the transaction
On 26 January 2021, Aedifica and Korian each acquired 50% ownership of the plot of land. The contractual value amounts to approx. €2 million. Aedifica and Korian have budgeted an amount of approx. €6 million for construction works. The total investment2 will ultimately amount to approx. €8 million, half of which will be financed by Aedifica.
Description of the operator and the leases
Stepping Stones Blaricum will be operated by the Korian group under the Stepping Stones label. Korian is a leading European elderly care home operator that is active in 6 countries (Belgium, France, Germany, Italy, Netherlands and Spain). The group operates nearly 900 care facilities and provides residential care and home care services to over 470,000 residents and patients, employing more than 56,000 staff in total.
Aedifica and Korian have a longstanding partnership. Korian operates 28 Aedifica sites in Belgium, 15 sites in the Netherlands and 1 site in Germany. 6 additional Aedifica care properties currently under development will also be operated by Korian.
The site will be let on the basis of a new long-term triple net lease. Upon completion of the works, the initial gross rental yield will amount to approx. 5.5%.
2 The contractual value complies with the provisions of article 49 § 1 of the Belgian Act of 12 May 2014 on regulated real estate companies.
3/6
PRESS RELEASE
26 January 2021 - after closing of markets
Under embargo until 17:40 CET
Description of the joint venture
Aedifica and Korian have joined forces and created a joint venture in December 20203 to invest together in the development of healthcare real estate in the Netherlands. Both partners will finance 50% of the investment volume and own 50% of the real estate. The joint venture will invest at least up to €75 million.
Through this partnership, Aedifica and Korian will co-invest in futureproof healthcare real estate. The properties that will be developed are small-scale care residences that are tailored to suit the needs of elderly people requiring residential care. Special attention will be paid to the energy efficiency and environmental standards of the buildings, in line with the Dutch GPR standard. The joint venture's current portfolio includes 1 fully operational care property and 4 projects under construction. All care properties of this joint venture will be operated by entities of the Korian group.
Name | Location | Investment | Construction year / | Capacity | Lease |
(€ million) | expected completion | (units) | |||
Stepping Stones Lelystad | Lelystad | 12 | Q4 2021 | 45 | NNN |
Stepping Stones Soest | Soest | 9 | Q2 2022 | 36 | NNN |
Stepping Stones Woudenberg | Woudenberg | 10 | Q1 2022 | 36 | NNN |
Zorghuis Hengelo | Hengelo | 4 | 2017 | 21 | NNN |
Stepping Stones Blaricum | Blaricum | 8 | Q2 2022 | 29 | NNN |
Total | 43 | 168 | |||
3 See press release of 10 December 2020.
4/6
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Aedifica SA published this content on 26 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2021 16:51:00 UTC