French REIT Icade has announced the acquisition of two medical clinics in France for a total of €52.7 mln.
The transactions were carried out by Icade Santé, the medical property investment business in which Icade owns a 56.5% stake.
In the largest of the two deals, Icade Santé purchased the Ormeau MSO polyclinic in Tarbes, a commune in southwestern France, for €43 mln. Operated by Médipôle Partenaires, the polyclinic has two sites: Ormeau Centre (10,437 m2) and Ormeau Pyrénées (10,609 m2).
Separately, Icade Santé, in partnership with the Clinipôle group from Montpellier, acquired the Helios disability care home in Saint-Germé, another commune in southern France, for €9.7 mln. The 5,800 m2 clinic is located on a land area of 23,000 m2. Clinipôle is taking over as operator of the clinic.
The two clinics are subject to 12-year leases, with no break options.
Additionally, on 31 March, Icade Santé sold the Les Chênes polyclinic in Aire-sur-l'Adour, southern France, to its new operator, the Clinifutur group, for €5.6 mln.
