“Aedifica continues to expand its healthcare portfolio by investing €20 million in the development of two brand-new care homes in Finland at an attractive yield.
Both projects reflect our continued commitment to replenishing our pipeline with high-quality, purpose-built care properties. Upon completion, the care homes will accommodate a total of 139 residents, meeting the highest standards of care, comfort and sustainability. Furthermore, we are pleased to deepen our successful collaboration with Mehiläinen, a longstanding tenant with proven operating success in this area and care model.
These transactions bring our total amount of new investments announced in 2026
to approx. €195 million YTD.”
Stefaan Gielens, CEO of Aedifica
Description of the projects
Aedifica will develop two brand-new care homes in the Finnish cities of Oulu (approx. 218,000 inhabitants) and Nokia (near Tampere, approx. 260,000 inhabitants). The care home in the city of Oulu will be designed and developed (in-house) by our Finnish Hoivatilat team. Construction of both buildings has already started and is expected to be completed in Q4 2027.
Both care homes will accommodate a total of 139 residents.
- Oulu Mäkituvantie1will welcome 59 people in spacious bedrooms specifically tailored to suit the needs of elderly people requiring continuous care, while 20 apartments will cater for elderly people who prefer independent living with on-demand care and services.
- Nokia Pinsiöntie2will accommodate up to 60 elderly people requiring continuous
Truly futureproof, both care homes will not only offer the highest standards in terms of care and comfort, but also in terms of sustainability. The care property in Oulu will be equipped with a geothermal heating system and solar panels, while the property in Nokia will even provide heat recovery ventilation, a rooftop solar power system supplying the building with renewable energy, and triple-glazed windows. This should result in an EPC3 rating A or B, 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 properties in Oulu and Nokia on 24 and 29 July 2026, respectively. Construction will be financed in instalments, depending on the progress of the work. Aedifica’s total investment4 (development budget) will amount to approx. €20 million.
Description of the operator and the leases
Both care homes will be operated by Mehiläinen, an established private operator with broad experience in providing care and social services in Finland. Founded in 1909, its mission is to promote health and well-being by offering high-quality, comprehensive services. Mehiläinen operates a wide service network with 1,450 units and already operates 25 Aedifica properties.
The care properties will be let on the basis of new, irrevocable, 15-year, double net leases.
1 Address: Mäkituvantie 7, 90650 Oulu (Finland).
2 Address: Pinsiöntie 46, 37130 Nokia (Finland).
3 Energy Performance Certificate (EPC).
4 The contractual value complies with the provisions of article 49 § 1 of the Belgian Act of 12 May 2014 on regulated real esta te companies.
