Aedifica SA agreed to acquire four senior housing operating sites and the construction of a new rest house in Germany in a roughly €39 million deal.
The deal reflects an initial gross rental yield of approximately 6%.
The four assets are the 101-unit Seniorenzentrum Sonneberg in Sonneberg, the 75- and 39-unit Seniorenzentrum Haus Cordula I and II in Oberzent and the 106-unit Hansa Pflege- und Betreuungszentrum Dornum in Dornum. The 144-unit Seniorenzentrum Weimar in Weimar is expected to complete in early 2020.
The deal will be financed by Aedifica's credit lines.
The sites are operated by entities of Group Azurit.
