Belgian listed property group Cofinimmo has announced the acquisition of a portfolio of six care homes located in France and let to the Medica Group, representing a total value of EUR 44.5 mln.

The properties comprise the EHPAD (rest homes for elderly dependent persons) facilities in Cannes-la Bocca and Carnoux en-Provence, in the Provence-Alpes-Côte d’Azur region, the EHPAD asset in Reims, Champagne-Ardenne, in Sarzeau, Bretagne as well as a rehabilitation and post-acute care centre in Létra and an EHPAD site in Villars-les-Dombes, in the Rhône-Alpes region. The assets have a total surface of 21,600 m2 and accommodate 475 beds, offering a gross rental yield of 6.51%.

In a statement on Tuesday, Cofinimmo said that Medica has agreed to take a 12-year lease on the assets, and will take charge of all the operating costs on the buildings. 'This transaction allows Cofinimmo to pursue its portfolio diversification, both in terms of asset class and geographical spread, as its tenants' portfolio,' it said.

Separately, Cofinimmo purchased the company De Abdij SA, which owns a build-on site located in Koksijde, Belgium, and valued at EUR 3 mln. Plans are to build a 6,440 m2 care home hosting 87 beds on the site, representing an investment of EUR 10 mln. The facility will be operated by Belgian operator Armonea, which will take a 27-year lease. Delivery is planned during the second quarter of 2013.