Foncière des Murs, the hospitality arm of French REIT Foncière des Régions, has signed a preliminary agreement to sell a healthcare property portfolio to the Health Property Fund I, managed by BNP Paribas REIM. The transaction price amounted to EUR 68 mln.
Foncière des Murs, the hospitality arm of French REIT Foncière des Régions, has signed a preliminary agreement to sell a healthcare property portfolio to the Health Property Fund I, managed by BNP Paribas REIM. The transaction price amounted to EUR 68 mln.
The portfolio comprises 9 EPHAD-style hospital/nursing homes, leased to Korian and located in Provence-Alpes-Côte d’Azur (Simiane, Vitrolles and Saint Mandrier), Normandy (Ouistreham and Rouen), Lorraine (Epinal and Nancy), Rhône-Alpes (Thonon-les-Bains), in Nord-Pas de Calais (Roubaix).
Closing is scheduled to take place in the second quarter of 2012.
The deal is the first for the Health Property Fund 1, which plans to reach a size of EUR 500 mln of assets under management during its investment period.
Earlier in April, Foncière des Murs raised EUR 125 mln through a capital increase. Its parent group, Foncière des Régions subscribed nearly half of the 7.7 million newly issued shares.
