Law firm Appleby acted as lead counsel to Euronext Brussels and Euronext Amsterdam listed Aedifica NV (Aedifica) on its acquisition of a portfolio of four nursing homes in Jersey and one nursing home in the Isle of Man.
Aedifica has purchased the portfolio for GBP46 million and will in addition invest a further GBP12 million in extensions and internal redevelopment works on 3 of the 5 nursing homes.
Aedifica is a Regulated Real Estate Company under Belgian law specialising in European healthcare real estate, particularly in senior housing. Aedifica has developed a portfolio of over 600 sites in Belgium. the United Kingdom (including the Crown Dependencies of Jersey and Isle of Man), Germany, the Netherlands, Finland, Sweden, Ireland and Spain, worth more than €5 billion.
The Appleby corporate team consisted of Partners Andrew Weaver Kevin McQuillan and Christophe Kalinauckas, Associate Khanyisile Deliwe and Trainee Angharad Prescott. Partner John Bisson advised Aedifica on the property elements of the transaction, supported by Conveyancing Managers Michel Bougeard and David Le Brocq and Paralegal Laura Sones.
Speaking on the transaction Appleby Partner, Andrew Weaver (pictured|) commented: “We were very pleased to support Aedifica on their entry into the care home market in the Crown Dependencies and to co-ordinate across corporate and real estate teams and across Jersey and the Isle of Man. This was a complex transaction, with a lot of moving parts and changing dynamics.”
Sven Bogaerts Chief Legal and M&A Officer for Aedifica, noted: “We are delighted to close out this transaction which marks the end of an intense period of engagement for the Aedifica deal team. The Appleby team have been superb on this transaction. In addition to always being available they were across all of the legal issues that arose, always available to talk us through the process and generally they provided a truly first-class service.”