Aedifica NV Advances €105 Million Irish Healthcare Pipeline Across Limerick, Sligo, Kilcoole and Crumlin

Aedifica NV is advancing a €105 million healthcare development pipeline in Ireland, with one project completed in 2026, a second due for completion by the end of this year and two further care homes scheduled for early 2028, the company announced on Oct. 12.

The four projects are the Limerick Cancer Centre, the Ursuline Convent Nursing Home in Sligo, and care home developments in Kilcoole and Crumlin. The Limerick scheme was developed in collaboration with Whitebox and DFL, with CROAL as tenant.

Aedifica Ireland Pipeline: Four Projects, One Completed

"Aedifica is currently investing over €100 million in the development of four innovative healthcare infrastructure projects across Ireland," said Bruce Walker, Country Manager Ireland. "In addition to the project that was completed earlier this year, another building is due to be completed by the end of this year, with the remaining two projects due for completion in early 2028."

The Ursuline Convent Nursing Home on Finisklin Road in Sligo, which houses 105 residents, was completed earlier this year. Aedifica said the facility adds a high-quality nursing home to the local healthcare landscape.

Limerick Cancer Centre With Whitebox, DFL and CROAL

The Limerick Cancer Centre represents Aedifica's first investment in a new healthcare real estate sub-segment. Construction started in the second half of 2025, and the building has entered its final construction phase. Practical completion is expected later this year.

The project was developed in collaboration with Whitebox and DFL. The tenant is CROAL, a joint venture between UPMC and Bon Secours Health System. The investment totals €26.5 million, and CROAL holds a 30-year triple-net lease on the property.

The project recently welcomed stakeholders to its first on-site ceremony, held to acknowledge the planning and strategy work that led to the current stage of construction.

Kilcoole and Crumlin Care Homes on Track for 2028

Construction on both care home developments began earlier this year, in the first quarter of 2026. Groundworks are complete and superstructure works are ongoing at both sites, which Aedifica said are progressing as scheduled.

• Kilcoole: A 109-resident care home on Main Street, Kilcoole, Co. Wicklow, representing an investment of approximately €25 million.
• Crumlin: A five-storey, 151-resident care home at Captain's Place, Armagh Road, Crumlin, Dublin 12.

Topping-out ceremonies are expected at both sites before the end of this year, and completion is planned for around the start of 2028.

"These projects demonstrate Aedifica's continued commitment to delivering futureproof healthcare infrastructure that brings innovative care to the local communities in Ireland," said Frank Cronan, Senior Asset Manager.

Irish Nursing Home Market Context

The pipeline comes as Ireland's nursing home sector operates with a pronounced imbalance between supply and demand. Industry estimates put demand at roughly 43,100 beds against about 32,350 existing beds, a shortfall of about 10,750 beds, or 33%. A June 2026 survey found average occupancy of 94.9% across private and voluntary nursing homes, alongside rising care complexity, workforce shortages and higher operating costs.

Ireland's population aged 65 and over is projected to grow faster than in many other European countries through 2040. Lisney identified 49 nursing home projects under construction, representing about 3,070 additional beds, while ESRI-based estimates indicate that roughly 1,000 to 1,039 additional beds may be required each year through 2040.

Ireland is also drawing international healthcare capital across nursing homes, primary care centres, private hospitals and residential care, according to CBRE's 2026 Ireland outlook.

Aedifica NV Portfolio Context

Aedifica reported a €12.5 billion real estate portfolio at June 30, 2026, including an €11.1 billion healthcare portfolio of 924 properties serving more than 80,000 end users across nine countries. Group occupancy stood at 99.1%, with a weighted average unexpired lease term of 15 years.

The Sligo, Kilcoole and Crumlin projects provide 365 residential care places in total. The Limerick Cancer Centre extends Aedifica's Irish exposure beyond elderly care into specialist healthcare real estate.

Sources

• Aedifica NV, "4 Irish healthcare projects running & completed totalling €105 million": https://aedifica.eu/4-irish-healthcare-projects-running-completed-totalling-e105-million/