Aedifica expansion continues with €66m care home spend
Belgium-based healthcare propery investor Aedifica has added to its Europe-wide expansion, committing €48 million to two care homes in Ireland and €18m to two German assets.
Both Irish homes are located in the Greater Dublin Area and will accommodate up to 185 people in need of continuous care.
The €30 million Dublin Stepaside care home will be developed in the centre of Stepaside, which is part of the Greater Dublin Area. It will accommodate 119 residents and will use energy-efficient systems, which should result in an ‘A’ Building Energy Rating2 (BER), Aedifica said.
Construction work is expected to start in the first quarter of 2022 with completion in the third quarter of 2023.
Potential for further expansion
The €18 million Altadore Nursing Home in Glenageary, also part of Greater Dublin, is a former villa dating from 1990. The operational building was redeveloped into a modern, high-end care facility and accommodates up to 66 residents. The site has potential for future extension.
Aedifica has also invested €18 million to acquire two further care homes in Germany.
The two homes are located in Duisburg. Haus Wedau and Haus Marxloh can house up to 126 people in total. Both were built in 1998 and renovated in 2007.
