12 April 2022

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Bouwinvest’s Dutch Healthcare Fund has purchased 149 assisted living apartments and a residential care complex comprising 144 units from developers Fraxus and Stebru in The Hague. The acquisition of the ‘Loevesteinlaan’ project also includes four commercial spaces totalling 622 m2 intended for medical services. Care provider Florence will operate the residential care complex and offer services to residents in the assisted living apartments. The scheme is located in Morgenstond, a post-war residential district to the south of The Hague, and almost all the apartments will target the mid-range rental segment.

The development site is currently the location of a nursing home formerly operated by Florence, which has not been in use for several years. The building will be demolished and replaced by a new care complex with 144 intramural units, topped by two residential towers. The residential towers will comprise assisted living apartments where senior citizens can reside independently. The design of the units will enable residents to stay in their own home for as long as possible, even if demand for care services increases. Thanks to the combination with a residential care complex, nursing services and facilities are close by.

"There is a housing shortage in the Netherlands in terms of both quantity and quality. Many residential care homes are outdated and no longer meet residents’ demands. This type of development, combining a new residential care complex, assisted living apartments and medical facilities, is in line with modern requirements," said Erwin Drenth, Director Dutch Healthcare Investments.

Florence will provide nursing services in the residential care complex and care services to residents in the assisted living apartments. Seniors requiring more intensive care in the future can also continue to live independently in the residences thanks to the availability of Florence's services and facilities. The combination of a care complex and assisted living apartments on the Loevesteinlaan is a recipe for success, according to Ellen Maat, managing director at Florence: "It's great to see how collaboration between Fraxus, Stebru, Bouwinvest and Florence has led to this development. Together, we are creating innovative forms of housing that meet the needs of the elderly.”

Robert Steenbrugge, managing director Stebru, and Bart van Esch, director Fraxus, added: "Following on from our successful Burano care development in Zaandam, we are delighted to once again contribute to the creation of a new high-quality care complex and residences, and are proud of our collaboration with the Bouwinvest Healthcare Fund.”

cteur Stebru en Bart van Esch, directeur Fraxus: “We zijn verheugd dat we, na het succesvolle Burano in Zaandam, opnieuw kunnen bijdragen aan het toevoegen van nieuwe kwalitatieve zorgwoningen en zijn trots op deze samenwerking met het Bouwinvest Healthcare Fund.”