Cofinimmo picks up Spanish nursing home for 9 mln euros

Brussels based real estate developer Cofinimmo acquired a newly built nursing and care home in Bilbao, northern Spain, for some 9 million euros, boosting its exposure in healthcare.

The construction of the building, let to the ORPEA group for 15 years, has just been finalised and its delivery took place at the same time as the acquisition.

“With the acquisition of this new building, not only do we reinforce our presence in Spain but also our partnership with the ORPEA group, with which we have been working since 2008, both in Belgium and in Europe,” says Jean-Pierre Hanin, CEO of Cofinimmo.

“In addition, Cofinimmo continues to actively participate in the expansion and renewal of the property portfolio dedicated to healthcare in Europe in general, and in Spain in particular,” he added.

Cofinimmo has assets in Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland and Italy with a value of approximately 5 billion euros.

Its latest acquisition in Spain has a surface area of around 5,000 m² and offers 104 beds, spread over a ground floor and five storeys. The building is equipped with the latest techniques (e.g. heating and cooling production system consisting of two centralised condensing boilers and two centralised water-air heat pumps). It has a level-B energy performance certificate.