Aedifica completes disposal of its entire portfolio in Sweden

Belgian elderly care property specialist Aedifica has sold a portfolio of educational real estate in Sweden. The company has signed an agreement to sell five preschools and one school. The deal is expected to be completed by the end of March and the value agreed amounts to SEK 454 million (€40.9 million).

The transaction is part of Aedifica’s strategic divestment of its entire Swedish portfolio and follows the disposal of 22 small-scale residential care centres completed in February for SEK 576 million (€52 million). After the completion of this second disposal, all of the group’s properties in Sweden have been sold.

Aedifica CEO Stefaan Gielens said: “We decided to divest the Swedish portfolio because its contribution to the group’s EPRA Earnings is limited compared to other segments, thus allowing for a capital recycling opportunity.

“This divestment gives us extra firepower to pursue new investment opportunities and refill our development programme. The proceeds of the disposal will be reinvested in the coming months and enhance earnings per share.”