Healthcare real estate
With a portfolio of approximately 2.6 billion EUR spread over five countries and comprising 207 facilities and more than 18,600 beds, Cofinimmo is a major investor in healthcare real estate in Continental Europe.
- Share in overall portfolio: 57%
- Portfolio fair value: 2.6 billion EUR
- Occupancy rate: almost 100%
- Average residual lease length: more than 16 years
Geographical breakdown per country (in %)
* The construction process of a nursing and care home has started in Vigo, Oleiros and Cartagena (Spain). On 31.03.2020 the total fair value of the healthcare portfolio in Spain represents 0.5%.
Main advantages of healthcare real estate
- Long-term leases with operators: an initial fixed term of 27 years in Belgium, 12 years in France, 15 years in the Netherlands and 25 years in Germany;
- The large majority of the leases stating that maintenance costs, including structural maintenance, are the responsibility of the tenant;
- Rental levels that reflect the economic potential of each project;
- Properties with redevelopment potential: if the leases are not extended, Cofinimmo can tap the redevelopment potential of the properties to the full, mainly as residential accommodation.