La Française Real Estate Managers (REM), acting on behalf of Danish pension fund PFA, has entered the Belgian senior-housing market with the acquisition of an 80-unit development at 457 Baron Ruzettelaan in Bruges.
This investment is part of a separate account mandate granted by PFA to La Française Real Estate Managers.
The acquisition covers the development of a senior-housing unit of about 5,000 square meters (53,820 square feet), spread over four floors. The project will include more than 80 flats, ranging from 42 square meters to 70 square meters (452 square feet to 753 square feet), and provides parking spaces and numerous services, including a 24-hour concierge service, a restaurant, creative leisure workshops, a hairdresser, a fitness center, a balneotherapy center, and a landscaped garden.
Completion is scheduled for the second quarter of 2023.
David Rendall, managing director of La Française Real Estate Managers – Institutional Division,Â
