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Aedifica debuts in Sweden

Aedifica celebrates its debut in Sweden. The first two completed development projects in Sweden are residential care centres for disabled persons. “The Aedifica group has set foot in Sweden following the completion of two brand-new specialist residential care centres in Uppsala and Heby. We have invested approx. 39 million SEK in the construction of both properties and have already lined up a development pipeline of several new projects, some of which will be completed later this year. Our Swedish pipeline currently includes specialist residential care centres and children day-care centres, but in the future also elderly care homes will be added. We are pleased with this important step forward in our European growth story and we look forward to further developing the Group’s activities in Northern Europe through Hoivatilat.", commented Stefaan Gielens, CEO of Aedifica.

Aedifica has acquired two specialist residential care centres in Uppsala and Heby for SEK 39 million. The sites are let on new irrevocable double net long leases. The yield on cost is approx. 6.5-7%.

In April 2020, the tenants and first residents of LSS-boende Gråmunke and LSS-boende Heby moved in after the specialist residential care centres were completed in March and April, respectively. Both properties are situated in the Province of Uppsala län, close to the Stockholm region: LLS-boende Gråmunke is located in Uppsala (231,000 inhabitants) and LSS-boende Heby is located in Heby (14,000 inhabitants). The small-scale residential care centres are specifically tailored to suit the needs of disabled persons and accommodate six residents each. LSS-boende Gråmunke is operated by Center för Vård och Omsorg i Uppsala AB, a private player that is part of the Team Olivia group. LSSboende Heby is operated by Alternatus I Sverige AB, a private player that is part of the Alternatus group.

Three projects are currently under construction in Älmhult, Eskilstuna and Norrtälje. The Group will invest a total amount of 121 million SEK (approx. €11 million) in these three brand-new children daycare centres. The first project will already be completed in August 2020 and is designed to accommodate 140 children. By the end of 2020 and the beginning of 2021, two additional children day-care centres will be completed.

In addition to the projects under construction, the Swedish team is working on a few more projects. Hoivatilat has applied for building permits for two additional children day-care centres in the southern part of Sweden, which are expected to be completed in 2021. The company also acquired a plot of land in the Greater Stockholm region (‘Stockholmsregionen’) on which a specialist residential care centre for disabled persons will be built. In addition, negotiations on other new projects are ongoing. Hoivatilat also plans to add elderly care home projects to its Swedish development pipeline in the near future.