La belga Cofinimmo spinge sull’ healthcare real estate anche in Olanda

On 19.07.2018, Cofinimmo and Fundis signed an agreement, subject to conditions, regarding the acquisition of a site located in Hillegersberg, a district of Rotterdam, which comprises a geriatric rehabilitation centre built in 1966 and a nursing and care home built in 1999.

Cofinimmo will finance the renovation works of the rehabilitation centre as well as the demolition and redevelopment works of the nursing and care home. The acquisition of the actual site and the budget of the works represent a total amount of 23 million EUR. The delivery of the works is planned for end 2020. They will take place in several phases and care will continue to be provided during the entire duration of the works. The new buildings will offer 27 rehabilitation units, 60 geriatric rehabilitation units and 48 long-term care units, spread over an above-ground surface area of approx. 11,000 m².

The assets will be managed by Fundis, with which Cofinimmo signed a ‘double net’1 lease contract, with effect on the acquisition date. After delivery of the works, the lease contract will be reviewed for a 25-year duration. The rent will be indexed annually based on the Dutch consumer price index. The gross rental yield of this transaction will stand at approx. 6 % after works.

Source : Company