Bartra Health sold a portfolio of nursing homes to a Belgian RREC Building for approximately €161 million.
The facilities, with a capacity of 617 residents, consist of two new retirement homes in Loughshinny (Skerries) and Northwood (Santry), an HSE transitional care unit in Beaumont (Artane) and the purchase at term of the Clondalkin Lodge nursing home, which is currently under development.
The loughshinny and Northwood the retirement homes can accommodate 246 residents in specially designed en-suite rooms to meet the needs of seniors requiring ongoing care. The Clondalkin Lodge Nursing Home is under development and the 150-bed facility will open in 2023.
After surgery and treatment for accidents or serious illnesses in an acute care hospital, it is often necessary for patients to go through another recovery period before returning home. Beaumont Lodge (pictured) is a step-down facility specifically designed to provide continuous medical monitoring and patient reactivation. It can accommodate 221 patients
Declan CarlyleCEO of Bartra Health, commented: “This is a very exciting and positive step for Bartra Healthcare and our great team. The transaction will further strengthen our position in the Irish care home sector, and we look forward to developing our services and expanding our portfolio of homes.
“Building represent an excellent partner and suit us in terms of our philosophy and values, and it is important to note that neither residents nor employees will be affected by the change of ownership. Bartra Healthcare will also operate Aedifica’s nursing home currently under development in Crumlin.
Stefan Gielens, CEO of Aedifica, said: “The transaction will further strengthen our position and visibility in the Irish market and will immediately contribute to the Group’s results. Our portfolio in Ireland will now grow to almost €460 million once all development projects are complete. »
Gielens added that the care buildings will be let on the basis of new irrevocable triple net 25-year leases fully indexed to the consumer price index. The initial net rental yield amounts to around 5%.
Aedifica has developed a portfolio of more than 600 sites in Belgium, Germany, the Netherlands, the United Kingdom, Finland, Sweden, Ireland and Spain, for a value of more than 5.3 billion euros. euros. Aedifica is listed on Euronext Brussels and Euronext Amsterdam.
Since March 2020, Aedifica has been part of the BEL 20, the main stock market index of Euronext Brussels. Aedifica’s market capitalization is around 4 billion euros.