Regulated real estate company Cofinimmo, which will publish its half-year results on Wednesday, didn’t wait for them to announce the first acquisitions in the United Kingdom: three recent nursing and care homes leased to family operator Country Court Care, Located in East and South-East England. Enough to add about 200 beds to your health portfolio. And, above all, the 9th country in its geographical coverage which is already home to Belgium, France, Germany, Netherlands, Finland, Spain and Ireland and Italy from this year 2021. “A major step forward in the implementation of our corporate strategy, Cofinimo CEO Jean-Pierre Hannin quoted in the press release, namely: Develop and consolidate your leading position in the healthcare real estate sector in Europe. “
Because it is the property that travels to the SIR. Its other types of assets, offices and distribution networks, are located in only three countries (Belgium, Netherlands and France).
The total investment is approximately £57 million (67 million euros). That’s enough to keep Cofinimmo’s health portfolio above 60%. But (yet) the withholding tax has not been reduced from 30 to 15%. The British operation has no effect in this regard, as it pertains to an investment outside the European Economic Area. RREC has nevertheless decided to publish an ‘update’ relating to the said withholding tax, as well as its half-year results.
bottoms that encourage expansion
Note that if some CRS travel more than others, it is due to the type of asset in which they are invested. Of course, health helps overcome many limitations: Cofinimo has just entered country 9; For Edifica, it aligns to 7 countries (Belgium, Germany, Netherlands, United Kingdom, Finland, Sweden and, since February of this year, Ireland).
Logistics is also a source of geographic expansion, perhaps in a smaller number of countries (6 for WDP, 3 for Monteya) but in a more intensive way. Another place to visit: student accommodation. Geor, which has made it a feature, is already active in four countries, Belgium, the Netherlands, Spain and Portugal. In contrast, residential, offices and businesses have, at least in recent months, been more sedentary.
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