14 December 2023
The Bouwinvest Healthcare Fund has acquired two projects with a total of 76 care units from Cares Vastgoed, a joint venture between AIG Care & Living and care group Korian. The new-build projects are located in Abcoude and Vlaardingen and are expected to be completed in the first half of 2024.
Both projects will be realised by AIG Care & Living and the private residential care will be provided by Stepping Stones, part of Korian. The Stepping Stones concept provides appropriate care for elderly people with dementia, offering them a pleasant place to live. With this deal, the Healthcare Fund and Korian are building on a series of collaborations involving residential care complexes, including De Lawet in Wageningen, Villa Overbosch in Hilversum and Rosorum in Amersfoort and Apeldoorn.
Dominiek Beelen, Korian: “Due to the lack of healthcare real estate in the Netherlands and the difficult economic climate, which has led, among other things, to a sharp rise in interest costs and inflation, we cannot realise our growth and other ambitions on our own. We need reliable and collaborative partners like Bouwinvest.”
Bart van Venrooij, AIG Care & Living: “With the sale of these two projects, we have now delivered a total of eight projects to Bouwinvest’s Healthcare Fund, which underlines the effective cooperation between us and Bouwinvest. As a healthcare real estate developer, we also see enormous future potential and added value from our close cooperation with healthcare organisations and institutional investors specialising in healthcare real estate.”
Bouwinvest sees an acute shortage of suitable housing for seniors with and without care needs. This shortage will continue to grow in the coming years. Investors, such as Dutch pension funds, can play a significant role in addressing the shortage of healthcare-related housing.
Christian Schouten, Bouwinvest: “This means we will need to make considerable investments in healthcare real estate for pension funds. For its part, Bouwinvest is particularly interested in real estate that can be delivered quickly or existing real estate. In the latter case, it is clear that these days healthcare managers see real estate more as a burden than a pleasure, especially if that real estate need to be made more sustainable. We can help with that”.