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Germany
Acquisition of two sport and well-being
centres in Hanover and Hamburg
On 05.06.2015, the Cofinimmo Group acquired two luxury sport and
well-being centres in Germany. The Uhlenhorst centre, located within a
prestigious residential area of Hamburg and built in 2012, extends over
7,800 m². It is equipped with fitness rooms, swimming pools, a sauna,
thermal baths and tennis and hockey courts. The Maschsee centre,
located on the edge of a lake in Hanover and built in 2009, represents
10,000 m². It is equipped with fitness rooms, swimming pools, a sauna,
thermal baths and a beach volleyball court.
The two facilities are leased for 30 years to the Aspria Group, with
which the Cofinimmo Group has signed “double net” lease contracts
featuring limited maintenance obligations for Cofinimmo (mainte-
nance of the buildings’ structure, façades and roofs). The rents will be
indexed annually.
The total initial investment is 53.6 million EUR. The initial gross rental
yield of this transaction is 7.60%. In addition, price supplements will be
payable in the future, under certain conditions, combined with a rent
increase, if applicable. The gross rental yield could then reach 8.00%.
As a reminder, Cofinimmo owns the sport and well-being centre La
Rasante at Rue Sombre/Donkerstraat 56 in Brussels, operated by the
Aspria Group, since 2007.
Acquisition of a rehabilitation clinic in Bonn
On 16.12.2015, Cofinimmo acquired Kaiser Karl revalidation clinic in Bonn.
This 15,500 m² facility, built in 1996 and expanded in 2013, specialises
mainly in orthopaedics and offers 150 beds, a swimming pool, thermal
baths, a restaurant, as well as underground parking spaces. The total
initial investment is 30.0 million EUR
1
.
The facility is let to a subsidiary of the German operating group
Eifelhöhen-Klinik AG under a 25-year “double net” lease contract. The
rent will be indexed every three years, upwards only. The initial gross
rental yield of this transaction is 7.32%.
“IN 2015, COFINIMMO
CONTINUED ITS GROWTH
IN HEALTHCARE
REAL ESTATE IN
THE NETHERLANDS
AND GERMANY.”
1
Transaction costs (registration rights, etc.) of 2.5 million EUR included.
Rehabilitation clinic Kaiser Karl – Bonn (DE)
Sport and well-being centre - Uhlenhorst (DE)
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