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Aedifica subsidiary expands Finnish carehome portfolio

Hoivatilat paid €4 million for carehome in Espoo, Finland.

Shortly after entering the Irish care home market, Brussels-listed healthcare property company Aedifica has announced the expansion of its carehome portfolio in Finland.

The company’s Hoivatilat subsidiary has bought two operational care homes and two development projects for a total of €16 million. The homes will accommodate 122 elderly people and will be operated by different companies.

The two operational homes include one in Espoo which was acquired through a 100% purchase of the shares in the home for €4 million. The asset is let on the basis of a new irrevocable 20-year double net lease.

Aedifica has also acquired a home in Laukaa, completed in early 2020 and is part of a rehabilitation centre. The home was similarly bought in a €4 million share transaction and is let on a 15-year double net lease.

The firm has also acquired newly developed homes in Oulu for €6 million and Kempele for €2 million.