AG Real Estate SA, acting on behalf of its parent company AG Insurance SA, recently acquired a retirement home project in Liège from Vulpia, through pre-financing.
AG Real Estate SA, acting on behalf of its parent company AG Insurance SA, recently acquired a retirement home project in Liège from Vulpia, through pre-financing.
Located in the heart of the city and close to the Mediacité shopping centre, this development will offer 59 beds over a floor area of some 3,500 m².
The official opening of the retirement home is scheduled for the second half of this year. It will be managed by Vulpia, one of the major private operators in Belgium, which currently runs more than 40 establishments with 4,400 beds.
The project will offer maximum comfort to its residents. The technical installations will meet strict environmental standards: enhanced insulation (level K: 23), D ventilation and reuse of rainwater. These initiatives will help to reduce the carbon footprint and obtain an “Excellent” EPB certificate.
The home will also boast a bicycle storage room for care staff.
The property will benefit from a triple net lease for a 26-year term, fully indexed (100%).
This acquisition offers AG Real Estate an excellent opportunity to grow its portfolio of retirement homes in Belgium, with a total of 11 operational homes and serviced residences, and three projects in development.
Amand-Benoit D'Hondt, Head of Healthcare, Alternative and Indirect Investments explains: “We have had a solid, quality partnership with Vulpia for many years. We are delighted to be able to expand our joint healthcare portfolio in Belgium".
Nicolas De Blieck, Investment Manager, adds: "Through our active and effective cooperation with the Vulpia teams we are confident that this development will be well managed and monitored. Its proximity to one of our other retirement homes, also managed by Vulpia in the province of Liège, was a factor in the choice of this acquisition."
About AG Real Estate
AG Real Estate, a wholly-owned subsidiary of AG Insurance, is an integrated property operator active in Belgium, France, Luxembourg and on certain select European markets with expertise in different lines of business: Asset & Property Management, Development & Construction Management, PPP and real estate financing, as well as in Car Park Management through its subsidiary Interparking. A company active in urban real estate, AG Real Estate has more than 250 employees with varied profiles and areas of expertise.
With a portfolio of more than €6.5 billion under management for its own account and on behalf of third parties, AG Real Estate is endeavouring to provide a responsible response to new urban needs and to implement a sustainable development policy as to make its projects even more meaningful.
