Aedifica signs off on 10 care projects after €74m Q1 spend

Brussels-headquartered Aedifica completed 10 projects under its investment programme in the first quarter of 2024.

The developments, in Germany, the UK and Finland, completed at a cost of about €74 million, will add capacity of 425 adult residents and 15 children to the group portfolio. The three projects completed in Germany and one project in the UK are all elderly care facilities. Of the six in Finland, completed by Aedifica’s Hoivatilat subsidiary, two are senior care facilities, three are disabled care and one is a childcare facility.

The largest project (pictured above) was completed at Gera in Thuringia, Germany, and will accommodate 123 elderly residents.

Aedifica said the care properties will be operated by a diverse pool of well-established and private and non-profit operators. The Finnish properties are all let on 15-year terms while those in Germany and the UK are let on 22 to 30 year terms.

Aedifica CEO Stefaan Gielens said the design of the projects pays “special attention to environmental standards and energy efficiency.”

The assets are equipped with energy-efficient systems including solar panels, air-source heat pumps, high-efficiency condensing boilers and low-energy lighting. These have resulted in an ‘A’ or ‘B’ EPC1 ratings.