Primonial REIM said on Thursday that it has agreed to acquire a portfolio of six greenfield nursing home projects for dependent elderly people in Northern Italy for close to €110 mln, including rights, from Numeria SGR, an Italian real estate management firm.
Spread over four regions in northern Italy (Tuscany, Piedmont, Veneto, Lombardy), the portfolio will be fully delivered by 2022 with a total surface area of nearly 44,000 m2 and providing more than 900 beds.
The assets – which were acquired for Primonial’s Primovie fund - will be fully operated under long-term leases by Gruppo Gheron, an Italian care home specialist.
The Italian branch of the Primonial Group will manage this portfolio locally on behalf of Primonial REIM, which has over €6 bn in healthcare property assets under management.
Grégory Frapet, chairman of Primonial REIM's management board, said: ‘We are delighted to sign this agreement with Gruppo Gheron. This investment underlines Primonial REIM's ambition to contribute to the transformation of the healthcare sector at a time when the development of new structures and additional beds are a necessity to meet the current and future needs of patients, their families and healthcare professionals. This agreement also allows Primonial REIM to establish a partnership with a key Italian operator in the sector and to accompany its strong growth.’
