BNP Paribas REIM’s Belgium arm has acquired five nursing homes for an open-ended European core healthcare real estate fund managed by its parent.

BNP Paribas REIM Belgium said the Healthcare Property Fund Europe (HPF Europe) fund has bought the Wombat, Residentie De Vlamme, Zorgcampus Maasmechelen, Anima Vera and De Wandelgang vehicles that hold the properties in Flanders from Baltisse Real Estate. The five nursing home sites offer some 33,000sqm with a capacity of 510 beds.

Financial details were undisclosed.

Casper van der Woude, director for BNP Paribas REIM Belgium, said the deal is Healthcare Property Fund Europe’s first acquisition in the Benelux region, adding that the “acquisition fits perfectly with the fund’s strategy to diversify geographically in the euro-zone”.

HPF Europe, launched in 2020, offers exposure to the European healthcare market with a mixed allocation to hospitals, rehabilitation clinics and nursing homes. In 2021, BNP Paribas REIM raised an initial €340m for the fund and said at the time that It had closed on six assets located in Germany.

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