Belgium-headquartered healthcare real estate investment trust Aedifica has invested approximately £45.5 million for the forward acquisition of a new care home and two care homes under construction,

Aedifica has acquired Marston Moretaine Gee View in Marston Moretaine, Bedfordshire which accommodates 66 residents in bedrooms with en suite facilities tailored to suit the needs of elderly people requiring continuous care. The home is operated by Ideal Care Homes, a provider of residential and dementia care operating more than 30 care homes across Yorkshire, the Northwest and Midlands.

In development are Whitby Castle Road in Whitby, North Yorkshire and Holt Health Farm and Holt, Norfolk, which will both accommodate 66 residents in bedrooms with en suite facilities tailored to suit the needs of elderly people requiring continuous care. Construction is expected to be at completed at Whitby in the fourth quarter this year, and at Holt in the first quarter next year.

The buildings are being developed by care home developer and operator LNT Group. Whitby Castle Road and Holt Health Farm will be operated by residential and dementia care provider Danforth care, which is 100% controlled by the shareholders of the LNT Group.

The care homes will be let on the basis of new irrevocable 35-year triple net leases. Upon completion of the works, the initial net yields will amount to approximately 5%.

Bruce Walker, country manager of Aedifica UK, said: “In the design of the brand-new care home and the development projects, special attention was paid to environmental standards and energy efficiency. Thanks to this acquisition, we start a new collaboration with Ideal Care Homes and extend our collaboration with Danforth Care, an established elderly care home provider.”