Bloomberg News

Cofinimmo Buys Nursing Home, Sees Gross Initial Yield of 6.5%

October 13, 2011

Oct. 13 (Bloomberg) -- Cofinimmo SA agreed to buy a nursing home in Brussels for 6.5 million euros and plans to spend an additional 10 million euros on renovation and expansion works for a gross initial rental yield of 6.5 percent starting in the fourth quarter of 2012.

Cofinimmo also said it agreed to construct a new nursing home in the Brussels periphery in a joint development with Le Noble Age.

To contact the editor responsible for this story: John Martens at jmartens1@bloomberg.net


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