Aedifica and Specht: construction starts for four nursing care homes in Northern Germany


Aedifica acquired four more building plots from the Specht Group this week for €6mn. Nursing care homes, senior apartments and day care centers are being built in Wolfsburg and Beverstedt (Lower Saxony), Heiligenhafen (Schleswig-Holstein) and Espelkamp (North Rhine-Westphalia) in accordance with an agreement from two years ago. Residenz Baugesellschaft, a Specht company, is building the properties for €66mn. The collaboration between Aedifica and Specht provides for the construction of 17 “care campuses” for a total of €245mn, which will be placed in the Belgian REIT’s portfolio. The original plan was for the completion of all properties by the end of 2019. In response to TD’s inquiry, Aedifica CFO Ingrid Daerden said that the long permission procedures made this impossible. Three of the locations have recently opened, two of them are following this year.

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