Belgian healthcare Real Estate Investment Trust (REIT), Aedifica, has purchased three Excelcare care homes in a £40m deal.
The purpose-built properties, which are all rated ‘Good’ by the CQC, are located in Harlow, Saffron Walden and Colchester.
Harlow Stefaan Gielens, CEO of Aedifica, commented: “We are very pleased to announce that Aedifica continues the expansion of its healthcare real estate portfolio in the United Kingdom with the acquisition of three fully operational care homes for approximately £40 million.
“The purpose-built properties comprise 263 ensuite bedrooms for seniors requiring continuous care and offer good care quality ratings. They are operated by Excelcare, marking a new collaboration between Aedifica and an established elderly care home provider.”
The care homes are let on the basis of new irrevocable 30-year triple net leases. The initial net rental yield amounts to approximately 5.5%.
Excelcare provides high quality residential care in more than 30 care properties in the south and east of England to over 1,900 elderly people.
Aedifica has developed a portfolio of more than 490 sites in Belgium, Germany, the Netherlands, the United Kingdom, Finland and Sweden, worth more than €3.5bn (£3.1bn).