Primonial REIM France signs a large-scale deal to acquire a portfolio of 33 nursing homes in France

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Primonial REIM France signs a large-scale deal to acquire a portfolio of 33 nursing homes in France

Paris, 12/02/2021

Primonial REIM France announces that it has finalised the acquisition of a portfolio of 33 long-term care nursing homes (EHPADs) in France on behalf of its Primovie SCPI (real estate investment company).

The portfolio covers a total surface area of approximately 113,000 m2 and has capacity for over 2,400 beds and more than 130 serviced apartments for seniors. All 33 nursing homes are fully let under fixed long-term leases to COLISEE, a key provider of comprehensive dependency care in France and across Europe.

This large-scale deal thus establishes a long-term partnership between PRIMONIAL REIM France and the COLISEE group through this portfolio. There are already plans to extend the surface area currently covered by the portfolio, with work scheduled for the short and medium term aimed at expanding the care capacity offered by the facilities.

The nursing homes are located in the main cities of the following 6 regions: Ile-de-France (3), Auvergne-Rhône-Alpes (7), Provence-Alpes-Côte-d’Azur (8), Bourgogne-Franche-Comté (9), Alsace Lorraine (3) and Occitanie (3).

France’s healthcare real estate market boasts solid fundamentals and rapid growth prospects. The need for care and health solutions will continue to soar over the coming decades, driven by long-term demographic trends (an ageing population, a growing number of dependent elderly people, etc.), so private companies need to build suitable, modern and quality care facilities for patients and their families.*

Grégory Frapet, Chairman of Primonial REIM France: I am delighted to have completed this large-scale acquisition with the Colisée group. It is the largest transaction to have gone ahead in Europe’s healthcare real estate market so far this year and a perfect illustration of our development strategy in this asset class, which is to establish strategic partnerships with national or international operators in order to help them meet their real estate needs while generating recurring potential rental income for our investor-clients over the long term.”

Primonial REIM’s pan-European real estate platform has invested over 1 billion euros in healthcare real estate since the start of the year, consolidating its position as the leading investor in this asset class. It now has a total of over 10 billion euros of assets under management, consisting of various types of facilities (long-term care nursing homes, medicalised retirement homes, MS/MSO clinics, post-acute/rehabilitation or medium-stay clinics, serviced housing, etc.) located across 6 European countries: France, Germany, Spain, Portugal, Italy and Ireland.

Primonial REIM France was advised by the Fairway law firm (Mr. Frédéric LEFEBURE and Ms. Cloé TEISSON) for the legal aspects of this transaction, the Allez & Associés notary office (Messrs. Guillaume CHEMITHE and Alexandre OLLAGNON) for the notarial aspects, CAREIT (Messrs. Filippo MONTELEONE and Giuseppe ZOLZETTICH) and ADAMA Conseils & Transactions (Mr. Jean-Luc ILLOUZ and Mrs. Olivia VITART) for the technical and operational aspects, and KPMG (Mr. Jean-Etienne CHATELON) for the tax-related aspects./p>

• Source: Primonial REIM Research & Strategy

About Primonial REIM

Primonial REIM brings together more than 400 employees in France, Germany, Luxembourg and Italy and applies its core values of conviction and commitment, as well as its expertise on a European scale, to design and manage real estate funds for its national and international clients, whether individual or institutional.

Primonial REIM has €30 billion in assets under management. Its allocation breaks down into: 50% offices, 32% health / education, 10% commerce, 6% residential, 2% hotels. The pan-European platform manages 61 funds and brings together more than 80,000 investor clients, of which 54% are individuals and 46% institutional. Its real estate portfolio is made up of more than 1,400 buildings (offices, health / education, retail, residential, hotels) located in nine European countries.

Key figures

€33,5bn
Assets under management
61
Investment funds
82,470
Shareholders
+5,000,000
m2 leased
7 000
tenants
11
European countries
1 Source: Primonial REIM, 30 june 2022

PRIMONIAL REIM press contacts

Véronica Basallo-Rossignol Marketing & Communication Director

veronica.basallo-rossignol@primonialreim.com

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