“Aedifica continues to expand its healthcare portfolio by investing approx. €12.5 million in a new to-be-built care campus in Spain at an attractive yield.
This state-of-the-art care campus will combine an elderly care home with a mental health centre. The campus will be purpose-built and will meet the highest standards of care and comfort, accommodating a total of 160 residents. The property will be highly energy-efficient, as evidenced by an excellent ‘A’ EPC score. Furthermore, we are pleased to extend our partnership with Novaedat and enter a new healthcare segment in Spain, namely mental healthcare.
This transaction brings our total amount of new investments announced in 2026 to approx. €208 million YTD.”
Stefaan Gielens, CEO of Aedifica
Description of the property
Aedifica invests approx. €12.5 million in the acquisition of a new to-be-built care campus in the Spanish municipality of Gandía1 (approx. 83,000 inhabitants), in the Province of Valencia. The campus will combine two types of care: a care home for 120 elderly people requiring continuous care and a wing for 40 people with chronic mental diseases (like depression, schizophrenia, eating disorders, game addiction, etc.) who need to rehabilitate in a protected environment. Both parts of the building will operate independently. Construction works will start in Q3 2026 and are expected to be completed in Q2 2028.
The care campus will not only offer the highest standards in terms of care and comfort, but also in terms of sustainability, making it truly futureproof. It will be equipped with energy-efficient systems and a rooftop solar power system supplying the building with renewable energy. This will be reflected in a high performance ‘A’ EPC2 score, contributing to the continued improvement of the sustainability of Aedifica’s real estate portfolio.
Description of the transaction
Aedifica exchanged contracts for the development of the property on 10 September 2026. Construction will be financed in instalments, depending on the progress of the work (forward funding). Aedifica’s total investment3 (including the contractual value of the plot of land and the development budget) will amount to approx. €12.5 million.
Description of the operator and the lease
Both the elderly care home and the mental health centre of this new state-of-the-art care campus will be operated by Novaedat, a well-established private operator with over 20 years of experience in the care sector in the Valencia-Alicante region. Currently, Novaedat offers elderly and mental health care to approx. 1,080 residents across multiple care homes, assisted-living facilities, and mental health centres, including one Aedifica property4. The addition of the Gandía care campus will increase the total number of people receiving care through Novaedat’s facilities to approx. 1,240.
The property will be let on the basis of a new irrevocable 20-year triple net lease with extension options. The initial rental yield will amount to more than 6%.
1 Address: Avinguda de Fontilles, Gandía (Spain).
2 Energy Performance Certificate (EPC).
3 The contractual value complies with the provisions of article 49 § 1 of the Belgian Act of 12 May 2014 on regulated real estate companies.
4 See press release of 18 September 2025.
Forward-looking statement
This document contains forward-looking information that involves risks and uncertainties, including statements about Aedifica’s plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Aedifica. Should one or more of these risks, uncertainties or contingencies materialise, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. As a result, Aedifica does not assume any responsibility for the accuracy of these forward-looking statements.
