Primonial REIM has invested €252m to buy seven healthcare facilities in France in a sale and leaseback deal with private hospital operator Elsan.
Primonial REIM, investing on behalf of its funds, said the facilities acquired will be leased back to Elsan for a 12-year fixed term.
The acquired assets include two medical and surgical clinics, three medical-surgical and obstetrics clinics and two follow-up care and physiotherapy clinics, representing a total surface area of more than 80,000sqm and more than 1,000 beds.
Primonial REIM and Elsan have also planned extension and renovation projects.
Primonial REIM board chairman Grégory Frapet, said: “The current health crisis has accelerated private investors’ appetite for healthcare real estate. This major transaction is part of a long-term partnership initiated with Elsan, the leading private hospital operator in France.
“Through this partnership, we are supporting Elsan in its development, offering the public effective and modern healthcare solutions in high-demand areas, and providing our investor clients with potential long-term revenues.
”Healthcare real estate is at the heart of Primonial REIM’s strategy and we plan to pursue our investments in socially useful sectors.”
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