Aedifica, the Belgian listed REIT, has acquired a care home site in Dunshaughlin, County Meath, Ireland, for the development of a 96-bed home to be operated by Grace Healthcare.
Aedifica acquired ownership of the plot of land by taking control of 100% of the shares in an Irish real estate company. The contractual value amounts to approx. €1.5 million. Aedifica has budgeted €17 million for construction works. Total investment will therefore amount to €18.5 million. The NIY will be circa 5.0%.
The care home, which will open in Q4 2023, will be operated by Grace Healthcare, an established Irish care provider which is part of the Vivalto Group. Grace Healthcare currently operates more than 500 units in seven residential care facilities in Ireland.
