La Française Real Estate Managers (REM) has acquired five healthcare facilities in France as part of a sale & leaseback deal worth over €120 mln.
The properties were acquired on behalf of two collective real estate investment vehicles from French private hospital group Elsan.
The portfolio includes three medical and rehabilitation centres and two clinics specialising in medicine, surgery and obstetrics which will be let to Elsan under long-term leases.
The strategic partnership agreement between La Française REM and Elsan also foresees the setting up of a joint fund to modernise these clinics and improve their energy and environmental performance.
Jérôme Valade, head of healthcare assets at La Française REM said: ‘The acquisition of this portfolio of five clinics marks the start of a long-term partnership with Elsan, and we look forward to repeating this type of operation together. Indeed, the joint modernisation fund which will support these assets in the climate transition towards a better energy and environmental footprint reflects our shared commitment to responsible real estate asset management.’
Simon Levy, CEO of the Elsan Group, added: ‘This new strategic partnership is in line with Elsan's desire to continue developing the activities of its establishments by joining forces with a major player in the healthcare real estate sector. We also want to continue to work with La Française REM to invest in modernising and improving conditions for our patients, while ensuring the energy and environmental transition of our facilities.’
The healthcare facilities are located in Perpignan (Clinique Supervaltech - 7,254 m2 with 178 beds); Carcassone (Clinique du Sud – 5,181 m2 with 64 bedrooms); Nîmes (Clinique Valdegour – 8,166 m2); Cambrai (Clinique du Cambrésis – 3,666 m2); and Fréjus (Clinique Les Lauriers – 4,787 m2 with 71 beds).
La Française REM was advised by Allez & Associes and Mayer Brown (legal), Artelia (technical and ESG due-diligence) and by Adama Conseil et Transactions (operational audit).
