Icade, the French property arm of Caisse des Dépôts, has bought four medical clinics from operator Médi-partenaires for a total of EUR 112 mln.
Icade, the French property arm of Caisse des Dépôts, has bought four medical clinics from operator Médi-partenaires for a total of EUR 112 mln.
The transaction adds to Icade's acquisition in July of seven private hospitals from Médi-partenaires for EUR 233 mln. The properties, including Clinique Saint Augustin in Bordeaux, la Polyclinique du Parc in Saint-Saulve and Pôle Santé République in Clermont-Ferrand, offer a total of 1,285 beds and are leased to Médi-partenaires under a 12-year rental agreement.
In total, the Paris-listed real estate investment trust has now taken control of 11 of Médi-partenaires' 24 owned assets in France, according to the French press.
The proceeds from the sale will be used to reduce debt and to finance future growth of Médi-partenaires, one of the largest private clinic operators in France.
