Icade’s European healthcare property arm has acquired five properties in Italy from operator for €51 mln, including duties.
Icade has bought two nursing homes and a psychiatric facility and signed an agreement to acquire two further nursing homes that have yet to be built.
The five facilities, located in the regions of Lombardy, Liguria, Le Marche and Emilia-Romagna, total 514 beds and will be operated by the Kos Group with lease terms of 15 years with no break option.
Three of the acquired assets will generate immediate cash flows. The other two assets are scheduled to be acquired in H1 2023, once the facilities have been built and the appropriate permits required for their operation have been obtained.
Icade Healthcare Europe (IHE) is 59%-owned subsidiary of Icade dedicated to international healthcare property investments.
The transaction will bring total international investments made by Icade’s Healthcare Property Investment Division to nearly €790 mln.
