CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Cushman & Wakefield undertakes valuation on the part of Cofinimmo, in sale and lease back of the Trinity Care Nursing Home Portfolio, in Ireland

19/01/2021

The acquisition marks Cofinimmo’s entry to the Irish marketplace, by way of a €93M sale and leaseback, in conjunction with leading European operator and likewise new entrant DomusVi.

Cushman & Wakefield has undertaken the valuation of a 7 home, 491 bed portfolio as part of a sale and leaseback transaction involving two of Europe’s largest Healthcare specialists.

The transaction marks both parties’ entry within the Irish nursing home sector.

Belgian based REIT Cofinimmo are listed on the Euronet Brussells (BEL 20) and have an existing European healthcare portfolio of approximately €2.7bn; with assets spread across Belgium, France, the Netherlands, Germany, Spain and now Ireland. This comprises of 211 facilities and more than 19,400 beds across 6 countries, with an average unexpired lease term of more than 16 years. The healthcare sector accounts for 59% of the groups overall property portfolio, which has a total worth of approx. €4.6bn.

The French registered operator DomusVi, has a reported net worth of €245M and is a leading provider of accommodation, assistance and care facilities within France, Spain, Portugal and worldwide. It operates close to 400 nursing homes, 17 senior residential homes, more than 20 psychiatric hospitals and centres for the disabled as well as multiple home-care agencies. It is currently a top 3 operator in both France and Iberia.

The portfolio of seven modern nursing homes provides a total of 491 beds as follows:

Location

No. of Beds

St Doolagh’s Balgriffin, Dublin

72

Anovocare, Swords, Dublin

89

Foxrock, Dublin

41

Suncroft, Co Kildare

60

Gormanston Wood, Gormanston, Co Meath

89

St Peter’s, Castlebellingham, Co Louth

69

Castlemanor, Drumalee, Co Cavan

71

Total

491


The majority of the nursing homes are within the Greater Dublin Area and range in date from 1999 to 2016; with all but one being constructed post 2000.

The acquisition represents the first significant transaction to take place within the Irish nursing home market in 2021 and is one of the most significant sale and leaseback transactions within the sector in recent years.

The Cushman & Wakefield Irish Healthcare team undertook a valuation of the portfolio as part of Cofinimmo’s acquisition process.

Dermot Hughes commented “We are delighted to have been involved in the provision of valuation services to Cofinimmo as part of this transaction. The acquisition bodes well for the Irish healthcare market and demonstrates the high level of confidence within it; with two such key principal European entrants. It provides a strategic platform to both parties, for onward expansion within Ireland.”

 

RECENT NEWS

Office Investment Q1 2020 Report
Ireland Largest Single Office Transaction

Mapletree Investments Pte Ltd “Mapletree” have exchanged contracts on The Sorting Office, an eight-storey office building comprising approximately 210,000 square feet of net internal area. Mapletree were represented by Cushman & Wakefield Ireland and the vendor is Marlet Property Group, an Irish property developer.

11/06/2019

Clonakilty Welcomes Cornish Fashion and Lifestyle Brand Seasalt

Cushman & Wakefield are delighted to confirm that Seasalt, the Cornish fashion and lifestyle brand, is set to open its first store in Ireland this June in Clonakilty, Co. Cork. Seasalt was drawn to the town’s vibrant character, proximity to the coast and its rich creative heritage.

10/06/2019

Cushman & Wakefield To Acquire Its Irish Affiliate From Sherry FitzGerald Group

More than 100 commercial property specialists in Dublin, Limerick and Galway will join one of the world’s largest real estate services firms. Managing Director Aidan Gavin becomes Cushman & Wakefield’s Head of Ireland and joins its UK & Ireland Executive Committee.

16/07/2018

INSIGHTS

Dublin
MarketBeat

Dublin MarketBeat Reports

Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
Tom McCabe • 12/11/2024
Hotel Exterior Sign
Research

Almost 1,000 hotel rooms were delivered in Dublin in 2018

Development activity remains the predominant focus of the Irish hotel market, with a little over 1,300 rooms delivered across 21 Irish hotels during 2018.
11/03/2019

CAN’T FIND WHAT YOU’RE LOOKING FOR?

We’re on hand to help. Get in touch and we can help with any additional information you need.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.

MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS