Cofinimmo will develop a new nursing and care home on a plot of land acquired last Wednesday in Seville. The investment budget for both the plot of land, which had been acquired through a subsidiary, and the construction amounts to approximately €15 million. The site is pre-let to Grupo Reifs.
After work completion, the building will have a total surface area of approximately 8,200 sqm and will offer 150 beds.
Works are expected to begin in the second quarter of 2026, within the framework of a turnkey project. The delivery of the nursing and care home is currently scheduled for the fourth quarter of 2027, when the lease will start. Cofinimmo aims for an A energy performance label as well as for a BREEAM Excellent certification.
According to Cofinimmo, a triple-net lease with a term of 30 years has been signed with the operator Grupo Reifs. The rent will start at the delivery of the works and will be indexed annually in line with the Spanish consumer price index. The gross rental yield will be in line with current market conditions.
“With the construction of this new nursing and care home in Andalusia, we continue to actively participate in the expansion and renewal of the healthcare infrastructure in Spain. We are also pleased to strengthen our partnership with Grupo Reifs, the leading healthcare operator in this region”, said Jean-Pierre Hanin, CEO of Cofinimmo.
The new nursing and care home will be built in the Seville Este district of Seville, the capital of the province of Andalusia, which has approximately 700,000 inhabitants.
