Aedifica NV/SA: Aedifica invests €21 million in two care properties in Spain and Finland

Aedifica will invest approx. €13.5 million in the development of a care home in Salamanca (Spain).

Description of the project
The brand-new care home1 will be developed close to the centre of Salamanca (150,000 inhabitants), a city in Castile and León (over 2 million inhabitants). Designed over five floors, the care home will accommodate up to 160 residents in spacious bedrooms with en-suite facilities that are specifically tailored to suit the needs of elderly people requiring continuous care. Residents will be able to enjoy homelike communal areas, including dining rooms and living rooms with terraces, a gym and a garden.

Truly futureproof, the care home will not only offer the highest standards in terms of care and comfort, but also in terms of sustainability. It will be equipped with a rooftop solar power system supplying the building with renewable energy. This will be reflected in a high performance ‘A’ EPC score, contributing to the continued improvement of the sustainability of Aedifica’s real estate portfolio.

Construction of the building will start in September 2026 and is expected to be completed in Q3 2028.

Description of the transaction
Aedifica acquired ownership of the plot of land in 2021. On 14 July 2026, Aedifica exchanged contracts for the development of the property. Construction will be financed in instalments, depending on the progress of the work. Aedifica’s investment (2) (development budget) will amount to approx. €13.5 million.

Description of the operator and the lease
The care home will be operated by Neurocare Home, a Spanish care operator and developer founded in 2021 with an experienced management team and a solid track record in providing high-quality residential and dementia care to the elderly. Neurocare Home already operates six care homes in Spain, accommodating 840 residents, of which two are owned by Aedifica.

The care property will be let on the basis of a new, irrevocable, 30-year, triple net lease.

Aedifica will invest approx. €7.5 million in the development of a brand-new care home in Salo (Finland).

Description of the project
Aedifica will develop a care home in a residential area of Salo, a city of approx. 51,000 inhabitants located between Helsinki and Turku. Salo Haukkalankuja 3 will accommodate up to 52 elderly people in spacious bedrooms with en-suite facilities that are specifically tailored to suit the needs of elderly people requiring continuous care.

The building's design reflects our commitment to sustainability. Truly futureproof, the care home will be equipped with energy-efficient systems, such as geothermal heating, heat recovery ventilation, a rooftop solar power system supplying the building with renewable energy and triple-glazed windows. This will be reflected in a high performance ‘A’ EPC score, contributing to the continued improvement of the sustainability of Aedifica’s real estate portfolio.

Construction of the building will start in July 2026 and is expected to be completed in Q2 2027.

Description of the transaction
On 3 July 2026, Aedifica exchanged contracts for the development of the property. Construction will be financed in instalments, depending on the progress of the work. Aedifica’s investment4 (construction budget) will amount to approx. €7.5 million.

Description of the operator and the lease
The care property 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 home will be let on the basis of a new, irrevocable, 15-year, double net lease.

1 Address: Avenida de Ingenieros Zapadores con vuelta a la Avenida de Raimundo de Borgoña y Jardines Publicos, Salamanca (Spain).

2 The contractual value complies with the provisions of article 49 § 1 of the Belgian Act of 12 May 2014 on regulated real estate companies.

3 Address: Haukkalankuja 3, 24100 Salo (Finland).

4 The contractual value complies with the provisions of article 49 § 1 of the Belgian Act of 12 May 2014 on regulated real estate companies.

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.