Primonial REIM France has finalised the acquisition of a portfolio of 33 long-term care nursing homes (EHPADs) in France on behalf of its Primovie SCPI. The portfolio covers a total surface area of approximately 113,000m² and has a 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. The nursing homes are located in the main cities of the following 6 regions: Ile-de-France (3), Auvergne-Rhône-Alpes (7), Provence-Alpes-Cote-d’Azur (8), Bourgogne-Franche-Comte (9), Alsace Lorraine (3) and Occitanie (3).
Gregory Frapet, Chairman of Primonial REIM France, commented: “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.”