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Healthcare real estate

Portfolio

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.

Key figures

  • 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.