Bouwinvest Healthcare Fund acquires its first ‘circular’ intramural care building

The Bouwinvest Healthcare Fund has acquired its first circular intramural care building, a former office complex that will be redeveloped according to ‘circular economy’ principles, in the town of Harderwijk, 60 km to the east of Amsterdam. The building, named Villa Verde, was purchased from RE:BORN Real Estate. During the reconstruction, the old building materials will be recycled as much as possible.

The new facility will comprise some 54 care apartments with communal living rooms and various other shared rooms for people with dementia while the basement will comprise general care areas for emergency services. The building is located within walking distance of various supermarkets and the town centre. Healthcare operator Zorggroep Noordwest-Veluwe has committed to a long-term lease for the building.

Villa Verde will be redeveloped in line with the principles of maximum flexibility, circularity and energy efficiency (EPC 0). It will not only be more energy-efficient in use, it will also be healthier for residents as it will be developed in accordance with the WELL standard. In addition to the materials that can be recycled, the new building will use sustainable materials that take the environment and the health of residents into account. Bouwinvest is investing in this circular care complex due to its conviction that a slightly higher investment now will lead to a higher value in the long term. In short, the investment will translate into a financial as well as a social return.

Erwin Drenth, Director of Dutch Healthcare Investments, said: “We are proud of our purchase of the first circular care building in our portfolio. The building’s social return, through its flexibility, circularity and energy efficiency, makes it especially attractive. In addition, we are convinced that precisely these features will enable it to retain its value in the long term. That makes it doubly attractive for the shareholder.”

Ton Hoogendoorn, head of real estate at Zorggroep Noordwest-Veluwe, added: “Sustainability is high on the Zorggroep's agenda and we’re fully committed to this in our own buildings. We are very pleased we have found a partner in Bouwinvest Healthcare Fund that also recognises its importance. This will help us provide good care on a sustainable basis to the vulnerable elderly who have been entrusted in our care.”

Niel Slob & Saman Mohammadi, CEOs of RE:BORN, said they were proud of their achievements in recent years, adding that they had found partners in Bouwinvest and Zorggroep Noord West Veluwe who were an ideal match in terms of their vision for the environment. “In the coming year a RE: BORN building that is healthy, dynamic, circular and interactive will be created in Harderwijk for the care sector. Bouwinvest is part of the new reality that we are creating together with this ‘circular’ investment, which will hopefully serve as a new benchmark for the market."