Cofinimmo: to build a new nursing and care home in Valence




Brussels, embargo until 07.09.202, 5.40 p.m. CET

Cofinimmo will build a new nursing and care home in Valence

Cofinimmo (Euronext Brussels: COFB) has acquired land in Alicante, in the autonomous community of Valencia (Spain). The site will see the construction of a new nursing and care home. The investment budget for both the land and the works amounts to around 13 million euros. The site is pre-let to Solimar, a subsidiary of the Vivalto group.

Jean PierreHanin, CEO of Cofinimmo: “With the construction of this new nursing and care home in Alicante, we reaffirm our commitment to actively participate in the expansion and renewal of the real estate portfolio dedicated to healthcare in Europe in general, and in Spain in particular. We are also happy to extend our collaboration with the Vivalto group to Spain.



Brussels, embargo until 07.09.202, 5.40 p.m. CET

1. The site

The new nursing and care home will be built in Alicante. This city of more than 300,000 inhabitants is located in the south-east of Spain and is the second largest city in the autonomous community of Valencia.

The building will have a total area of ​​approximately 7,300 m² and will provide 150 beds. It will be located in an urban area not far from the city center, and will be easily accessible by several bus lines, one of which leads directly to a large park nearby.

With this project, Cofinimmo aims for level A energy performance and a BREEAM Excellent certificate. For this purpose, high-quality materials with a long service life will be used for the construction of the premises. In addition, remotely readable water and energy meters as well as a water leak detection system have been provided to avoid wasting energy and water. Particular attention will also be paid to the analysis and exhaustive elimination of any construction remains and waste in order to avoid any potential pollution of the environment.

Thus, the new nursing and care home will not only fit into its current environment, it will also improve it thanks to its sustainable approach and the added value of the health services it will bring to the local population.

2. The operation

Cofinimmo acquired this land through a subsidiary. The investment budget for both the land and the works amounts to around 13 million euros. The amounts corresponding to the construction work will be paid according to the percentage of completion of the work.

Work is expected to start in the fourth quarter of 2021, with delivery of the nursing and care home scheduled for the first quarter of 2024.

A triple net1 25-year lease was signed with the operator Solimar. The rent will be indexed according to the Spanish consumer price index. The gross rental yield is in line with current market conditions.

The amounts payable in 2021 for this investment are not included in the investment estimate for 2021, as published in section 1.8.1 of the press release of 07/28/2021.

3. The operator-tenant

Vivalto Vie is part of the Vivalto Group, a French family holding company which owns and manages operating companies in the health sector. Founded in 2006, the Vivalto group has since extended its geographic presence through the acquisition and development of several companies in France, Belgium, Spain and Canada. Today, Vivalto Vie operates nursing and care homes in France, Spain and Ireland, representing around 3,000 beds.

In Spain, Vivalto Vie acquired Solimar in February 2020, an operator well established in the autonomous community of Valencia. Founded in 2006, the company owns and operates seven nursing and care homes, representing around 1,000 beds. In addition, Cofinimmo and the Vivalto Group have been partners in Belgium since 2017, where the Vivalto Group manages more than 30 health sites, one of which is part of Cofinimmo’s health portfolio.

1 Insurance, taxes and maintenance are the responsibility of the tenant.



Brussels, embargo until 07.09.202, 5.40 p.m. CET

For more information:

Lynn nachtergaele

Eliz Bicici

Investor Relations Manager


Phone. : +32 2 777 14 08

Offices & Real Estate Development

[email protected]

Phone. : +32 2 373 00 00

About Cofinimmo:

Cofinimmo has been acquiring, developing and managing rental buildings for more than 35 years. The company has a portfolio spread over Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland, Italy and the United Kingdom with a value of approximately 5.5 billion euros. Attentive to social changes, Cofinimmo’s mission is to provide its partner-tenants with quality care, living and working environments, from which users benefit directly. “Care, live and work – Together in real estate” is the expression of this mission. Thanks to its expertise, Cofinimmo has built up a healthcare real estate portfolio of approximately EUR 3.5 billion in Europe.

As an independent company that applies the highest standards of corporate governance and sustainability, Cofinimmo offers its tenants services and manages its portfolio through a team of around 145 employees in Brussels, Paris, Breda and Frankfurt .

Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the REIT system in Belgium (RREC), France (SIIC) and the Netherlands (FBI). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator.

As of August 31, 2021, Cofinimmo’s total market capitalization amounted to approximately EUR 4.2 billion. The company applies an investment policy aimed at offering a socially responsible, long-term, low-risk investment that generates a regular, predictable and growing dividend.

Follow us on:



Cofinimmo SA published this content on September 07, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 07 September 2021 15:51:06 UTC.


Leave A Reply

Your email address will not be published.