French asset manager Primonial REIM has announced that it has carried out its first healthcare real estate acquisition in Belgium by forward-funding a senior services residence on behalf of its SCPI Primovie real estate fund. Financial details were not disclosed.
The project will be delivered in the third quarter of 2022.
Covering a total surface area of more than 8,200 m2, it will consist of 119 one-bedroom and two-bedroom homes offering a wide range of services (restaurant, lounge bar, spa, gym, indoor pool and hair salon). The asset is leased with a 15-year firm long-term lease to operator Domitys, a subsidiary of Nexity.
The property, which will be co-promoted by Nexity and its subsidiary Aegide, will be located in Court-Saint-Etienne, just 40 km from Brussels. Nestled in a new eco-district near a commercial centre, the residence will be easily accessible via public transport and by car.
‘As a leader in healthcare real estate in Europe, Primonial REIM is forging ahead – with this initial acquisition in Belgium – with its development by investing in a sector making a positive social impact, driven by strong demand and promising growth prospects,’ said Primonial REIM’s board chairman Grégory Frapet. ‘With this type of transaction, Primonial REIM is funding new housing options for seniors, designed to make everyday life easier and promote socialisation through a wide array of services aimed at meeting their needs.’
