AXA IM - Real Assets adds French senior housing to healthcare portfolio

AXA Investment Managers - Real Assets has extended its managed healthcare portfolio into the French senior housing sector with the acquisition of a portfolio of care homes in the country’s capital for around €250m.

The asset manager said it has completed, on behalf of its clients, the acquisition, via financial lease agreements, of a portfolio of care homes in Paris from GDP Vendome Group.

AXA IM - Real Assets said the fully occupied portfolio comprises eight modern nursing homes totaling over 40,600sqm and providing 815 care beds.

All eight properties are exclusively tenanted and operated by one of the largest private nursing home operators in Europe.

John O’Driscoll, European Head of Transactions at AXA IM - Real Assets, said: “This acquisition aims to build on a strong track record of transaction activity in the French market, and is a further example of our ability to source and secure unique investment opportunities in fast-growing niche sectors on behalf of our clients.”

The latest deal extends AXA IM - Real Assets’ managed healthcare portfolio into the French senior housing sector and brings it to well over €1bn of assets across Europe, following investment acquisitions on behalf of clients in Germany, Italy, Finland, Spain and in the UK, with the acquisition of the Retirement Villages Group platform.

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