Blue Owl Capital and Moor Park Capital Partners have completed the acquisition of a portfolio of 12 acute-care hospitals across the UK, in a deal said to be valued at £1.6bn (€1.9bn).

The transaction - which was financed by Standard Chartered Bank, Natixis and Crédit Agricole CIB - adds a massive portfolio of private hospitals let to Spire Healthcare Group, the UK’s largest private hospital operator, under long-term lease agreements.

The deal marks a significant step in the expansion of Blue Owl’s European net lease strategy, which focuses on investing in mission-critical real estate assets supported by long-duration income streams.

Marc Zahr, co-president and global head of real assets at Blue Owl, said: “The acquisition of the Spire portfolio represents a strategic investment in a portfolio of high-quality UK private hospitals with a market-leading tenant, well-structured long-term leases and significantly accelerates the expansion of our European Net Lease strategy.” 

Blue Owl and Moor Park said that they see “tremendous opportunity for further growth in the European healthcare sector” and intend to continue pursuing opportunities in this space.

Elsewhere in Europe, two landmark office transactions provided further evidence of investor appetite for prime assets in Central and Eastern Europe. The Bridge and Olivia Star, two prominent office towers in Poland, changed hands in deals that underscore renewed confidence in the country’s office market.

Romania also recorded its largest-ever hospitality refinancing, with German lender pbb Deutsche Pfandbriefbank providing a €123m loan secured against the Radisson Blu Hotel Complex Bucharest.

Recently completed deals       
Asset Asset type Location Buyer Vendor Size Price (mln) Key facts
UK Spire hospitals portfolio care UK Blue Owl, Moor Park Capital Partners EPF 12 assets £1600 (€1874) The acute-care hospitals are operated by Spire Healthcare Group, the UK private hospital operator.
Horizon Logistics Park logistics Dublin GIC and Valor Henderson Park 1,800,000sqft €500 The 400-acre estate includes 1.8 million sq ft of prime distribution real estate, strategically located adjacent to Dublin Airport-
The Bridge office Warsaw Eastnine Ghelamco 55,300m2 €300 The property is 92% let.
48 properties mixed France Sagax NA 88,000m2 €181 (SEK2000) The properties are mainly used as depots for public transport buses. They are 99% let.
Olivia Star office tower office Gdańsk , Poland Strabag Tonsa Commercial 40,000m2 €150 Olivia Star is the largest office building both in the Tri-City area and among all regional cities in Poland.
51% of LindenCorso and Atrium mixed Berlin SFL Generali Real Estate 42,000m2 €150 Both assets have an occupancy rate above 90%.
two assets living Berlin and Bielefeld M&G European Property Fund Livory 404 beds €73.5 The deals mark the strategy’s first investment into the serviced apartment sector in Europe.
care home project living Munkebo, Denmark Northern Horizon Skjøde 96-beds €40 Construction of the senior living units is already underway, with completion expected in January 2027.
Hilton Garden Inn hotel Innsbruck Schiehser Hotels Union Investment 159 rooms €21 Union Investment invested approximately EUR 4 million to modernize the hotel.
stake in FST Hotels hotel Spain Extendam Eurazeo 543 rooms NA The platform owns three assets in Madrid and Barcelona.
Città Sant’Angelo Outlet Village retail Pescara BauMont Real Estate Capital GWM 29,000m2 NA Reve Asset Management will remain as operating partner.
50% of Drammen Helsepark life science Brakerøya, Norway J.B. Ugland Eiendom and Knut Axel Ugland Holding Bane NOR Eiendom 98,000m2 NA The next construction phase, comprising two buildings for health and technology tenants, starts in October 2026.
Seafield Strand living Dublin MEAG Union Investment 11,000m2 NA Completed only in 2023 and located directly by the sea, the asset offers space for 140 apartments

 

Assets on the market       
Asset Asset type Location Vendor Size Price (mln) Broker Key facts
201 Bishopsgate office London British Land, GIC 222,000sqft ₤160 (€188) NA The owners secured recommitments and extensions for the asset earlier this year.
The Castle Meadow Campus office Nottingham University of Nottingham 348,000sqft ₤80 (€94) CBRE The asset was bought for £37.5m in 2021.
Blue Star House living London Derwent 341 studios ₤30 (€35) Colliers The asset is an office-to-aparthotel development opportunity.
Mount Falcon Estate hotel Ireland Maloney Family 38hectares NA CBRE Hotels The Estate comprises 32 beautifully appointed bedrooms.
11 UK holiday parks hotel UK Cove Group 2,564 caravan pitches NA NA The portfolio was profitable in 2025 from a turnover of £41.4m.
Indurent platform logistics UK Blackstone 30,000,000sqft NA NA Blackstone is said to be in the early stages of considering a sale for the £6bn platform.

 

Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (mln) Key facts
Erste Bank Polska Eastnine The Bridge in Warsaw €180 The acquisition facility has a term of five years.
Firma Partners DPK Group Royal Albert Dock office complex in London ₤113 (€132) The whole-loan development facility will finance the conversion of the asset into a purpose-built student accommodation with a GDV of around £300m.
Deutsche Pfandbriefbank AG Revetas Capital, Cerberus Radisson Blu Hotel Complex Bucharest €123 The facility is the largest financing ever completed for a hospitality asset in Romania.
Leumi UK TPG Angelo Gordon and Blomfield Concreit portfolio ₤100 (€117) The loan finances the group’s UK industrial outdoor storage portfolio.
Erste Bank Polska Newgate Investment 14 retail parks €72 The funds raised will be used to refinance and consolidate existing debt and provide capital for the company’s further growth.
Cheyne Capital Dunas Capital Real Estate cold storage facility in Spain €31 The funding will back the construction of the state-of-the-art logistics complex at the Antequera Dry Port in Málaga.
Deutsche Hypo – NORD/LB Real Estate Finance Deka-ImmobilienEuropa Gerling Garden in Cologne NA The asset consists of four office buildings and a hotel.
BayernLB Quantum Immobilien KVG resi portfolio in Germany NA The properties, built between 2008 and 2013, have a total rental area of around 48,900m2.

 

New mandates/JVs and funds on the market   
Firm Fund/mandate/JV Strategy Details
Long Harbour Long Harbour Single Family Housing Fund Investing in newly-built family rental homes across the UK The fund has secured a £100m equity commitment from the National Housing Bank, taking total commitments to £400m.

Topics