Aedifica has expanded its footprint in Spain through the acquisition of a care home in the Bilbao metropolitan area for approximately €17.5 million, as part of a broader €72 million investment programme that also includes three care home transactions in the United Kingdom.
The acquisition of Jardines de Eztebe, located in Doneztebe-Etxebarri, around seven kilometres from Bilbao city centre, marks Aedifica's latest investment in the Spanish healthcare real estate market. The purpose-built care home, which opened in July 2024, accommodates up to 147 residents and also includes a social and medical care centre with capacity for 20 people. The seven-storey building includes dining rooms and living rooms with terraces, a gym, a courtyard and an exterior garden area.
The property has been acquired from local operator Grupo Jardines, which will continue to manage the asset under a new irrevocable 20-year double net lease. The operator currently runs five care homes in the Bilbao region, providing care to nearly 400 residents. According to Aedifica, the transaction is expected to deliver an initial rental yield of around 6%.
The asset has been designed with a strong focus on sustainability, featuring energy-efficient systems, rooftop solar panels and an EPC A rating alongside LEED Gold certification. The company said the investment aligns with its strategy of expanding a portfolio of “futureproof” healthcare properties across Europe.
The Spanish acquisition forms part of a wider €72 million investment package announced by Aedifica, comprising four care properties across Spain and the United Kingdom. Overall, the transactions add capacity for 348 residents and increase the group's healthcare real estate portfolio, which now totals approximately €12.4 billion across nine European countries.
United Kingdom acquisitions complement Iberian expansion
Alongside the Bilbao transaction, Aedifica has committed approximately £46.5 million to three care homes in the United Kingdom. The investment includes the acquisition of the operational Beechwood Care Centre in Bridlington and forward purchases of Bowburn Manor in Durham and Acomb Manor in York, both currently under development and expected to be completed in the fourth quarter of 2026.
The three United Kingdom assets will be operated by North Bay Group. Together, the properties will accommodate 201 residents under new 30-year triple net leases, with an initial rental yield of approximately 6.5%.
Commenting on the latest investments, Stefaan Gielens, CEO of Aedifica, said the transactions increase the company's announced investments in 2026 to around €178 million year-to-date, while reinforcing its strategy of investing in modern, energy-efficient healthcare assets across Europe.
