The apartment buildings business unit of Aedifica includes about 33 building complexes located for the most part in Brussels in attractive areas (comprising 768 furnished and unfurnished apartments). The real estate assets were valued at around € 206 million as of 31 March 2018. In the context of the transaction, Aedifica will transfer the apartment buildings business unit to its subsidiary Immobe SA/NV which is recognized as an institutional regulated real estate company (“IRREC”) under Belgian law.
The first phase is expected to be closed as of Q4 2018 and will comprise the sale of 50% (minus one share) of the shares of Immobe SA/NV. The transaction reflects a portfolio premium of around 7%.
Degroof Petercam advised Aedifica as its exclusive financial advisor. As part of the transaction, Degroof Petercam assisted Aedifica since the year 2016 in the structuring of the transaction and the execution of a controlled auction process involving several international institutional real estate investors.
The transaction fits perfectly with the strategic development of Aedifica as a pure-play healthcare real estate player and allows Aedifica to pursue its growth in its core activities.
Degroof Petercam has assisted Aedifica since its launch in 2005 in the context of multiple transactions (creation, IPO, asset transfers, M&A transactions, secondary offerings,…).
Founded in 2005 and listed on Euronext since 2016, Aedifica is a leading European real estate company focusing on healthcare real estate, more specifically on senior housing. Aedifica's strategy is focused on the underlying demographic trend toward population ageing in Europe and the specific needs this trend implies in terms of care and housing. The company owns a diversified property portfolio valued at € 1.7 billion as of 31 March 2018, spread over Belgium, Germany and the Netherlands. Its healthcare portfolio includes 130 sites. Aedifica is listed on Euronext Brussels and operates under the REIT regime in Belgium (SIR/GVV).