Belgian investor Aedifica has agreed to acquire a £450 million ($570 million) portfolio of 93 care homes from Lone Star’s Real Estate Fund IV in its debut U.K. purchase.
It is considered one of the largest transaction for the U.K. market for 2018.
The portfolio consists of 5,700 ensuite beds in 91 locations across the United Kingdom predominantly weighted towards London and the South East.
“The United Kingdom provides an attractive investment opportunity for Aedifica, since the healthcare market is still very fragmented and the ageing population leads to increasing demand for care assets,” said Stefaan Gielens, the CEO of Aedifica.
They will be operated by 14 different firms, including Burlington Care, Maria Mallaband Care Group and Care U.K.
The transaction gives Aedifica access to the U.K. market, adding a fourth country to its portfolio, after Belgium, Germany and the Netherlands, for a total value of €1.8 billion ($2.1 billion).
