JLL advises Aedifica SA on purchase of £450million UK healthcare real estate portfolio
JLL has advised Aedifica SA, one of the largest European specialist healthcare investors, on its acquisition of a high-quality portfolio of 93 healthcare properties around the UK from an affiliate of Lone Star Real Estate Fund IV, comprising more than 5,700 ensuite beds.
All the properties are leased to a diversified range of 14 tenants on index-linked triple net leases with a weighted average remaining lease term of over 22 years.
With a value of approximately £450 million, the transaction represents one of the largest healthcare transactions of 2018 for the UK market, and the first ever by a European Healthcare REIT. JLL advised Aedifica SA in its underwriting and due diligence process. Aedifica SA currently has an existing portfolio of approximately €1.8 billion across Belgium, Germany and The Netherlands.
John Gladstone, Director of JLL’s EMEA Healthcare Capital Markets team, says: “This transaction marks the first time a specialist European healthcare REIT has invested in the UK and one of the largest transaction for the UK market for 2018. The UK’s fast growing elderly care market continues to attract new investment due to strong fundamentals. The number of people aged over 80 in the UK is set to double by 2050 and demand for care services and purpose-built facilities will only increase.”