Aedifica Rental Income Surges 62% Following Cofinimmo Merger

Aedifica, the Belgium-based healthcare real estate investment trust (REIT), reported a 62% year-over-year surge in rental income for the first half of the year, a direct result of its recently completed acquisition of rival Cofinimmo. The company's earnings also saw a substantial boost from the transformational deal.

Acquisition Fuels Top-Line Growth

According to its first-half results, Aedifica's rental income reached €292.30 million. The company's EPRA (European Public Real Estate Association) Earnings, a key performance metric for property firms, climbed 54% year-over-year to €189.90 million.

Aedifica directly attributed the significant increases to the integration of Cofinimmo's portfolio following the merger, which was completed during the period. The integration also involved the appointment of a new board and executive committee to lead the enlarged entity.

Portfolio Performance and Outlook

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Beyond the impact of the merger, Aedifica's underlying portfolio demonstrated steady performance, with rental income growing 1.7% on a like-for-like basis in the first half. This figure indicates organic growth from the company's existing assets.

The REIT continued to expand its portfolio, investing €84 million in new properties during the first half of the year and announcing an additional €111 million in investments over the summer.

Looking ahead, Aedifica provided the following guidance for the full year 2026:

• EPRA Earnings: Estimated at €436 million, or €5.35 per share.
• Dividend: A proposed dividend of €4.20 per share, representing a 5% increase.
• Synergies: The company expects to achieve full run-rate merger synergies of at least €16 million by 2027.