Aedifica, Europe’s largest listed healthcare REIT, is investing a total of €21m (US$24m) in two care properties accommodating 212 residents in Spain and Finland. The weighted average yield is above 6.5%.
In Spain, it will invest approximately €13.5m in the development of a new care home in Salamanca. Designed over five floors, the care home will accommodate up to 160 residents in rooms specifically tailored to suit the needs of elderly people requiring continuous care.
The care home will be operated by Neurocare Home, a Spanish care operator and developer founded in 2021 with an experienced management team and a solid track record in providing high-quality residential and dementia care to the elderly. Neurocare Home already operates six care homes in Spain, accommodating 840 residents, of which two are owned by Aedifica. The care property will be let on the basis of a new, irrevocable, 30-year, triple net lease.
Aedifica is also investing approximately €7.5m in the development of a brand-new care home in Salo (Finland) that will accommodate up to 52 elderly people in rooms designed to suit the needs of elderly people requiring continuous care.
The care property will be operated by Mehiläinen, an established private operator with broad experience in providing care and social services in Finland. Mehiläinen operates a wide service network with 1,450 units and already operates 25 Aedifica properties. The care home will be let on the basis of a new, irrevocable, 15-year, double net lease.
