Belgian’s Aedifica buys nursing homes for €161m
BARTRA Healthcare has sold a portfolio of nursing homes to Belgian REIT Aedifica for €161 million.
The facilities, with capacity for 617 residents, consist of two brand new nursing homes in Skerries, Santry, a HSE transitional care unit in Artane, and forward purchase of Clondalkin Lodge Nursing Home, which is currently under development.
Works on the €30m Bartra development in Clondalkin Village commenced in November 2020, a 146-bed state-of-the-art nursing home, together with 14 single occupancy Assisted Living Homes.
Located off the Boot Road, Clondalkin Lodge Nursing Home is scheduled to open in 2023.
The Santry and Skerries nursing homes can accommodate 246 residents in en suite bedrooms specifically tailored to suit the needs of elderly people requiring continuous care.
Declan Carlyle, CEO of Bartra Healthcare, said: “This is a very exciting and positive step for Bartra Healthcare and our excellent team. The transaction will further strengthen our position in the Irish nursing home sector, and we are looking forward to developing our services and expanding our portfolio of homes.
“Aedifica represents a great partner and fit for us regarding our ethos and values, and it is important to note that neither residents nor employees will be impacted by the change in ownership. Bartra Healthcare will also operate Aedifica’s care home that is currently under development in Crumlin.”
Stefaan Gielens, CEO of Aedifica, stated: “The transaction will further strengthen our position and visibility in the Irish market and contributes immediately to the group’s results. Our portfolio in Ireland will now increase to nearly €460m upon completion of all development projects.”
Gielens added that the care properties will be let on the basis of new irrevocable 25-year triple net leases that are fully indexed to the consumer price index. The initial net rental yield amounts to 5 per cent.
Aedifica has developed a portfolio of over 600 sites in Belgium, Germany, the Netherlands, the UK, Finland, Sweden, Ireland and Spain, worth more €5.3bn.
