Fairway advised Primonial REIM on the transactional and financing aspects of the acquisition of a portfolio of 33 residential facilities for the dependent elderly (EHPAD) located in France on behalf of its SCPI Primovie.
The portfolio has a total surface area of nearly 113,000 sq.m. and represents a capacity of more than 2,400 beds and more than 130 apartments in serviced residences for seniors. All 33 nursing homes are fully leased to the COLISÉE Group under long-term leases.
This large-scale transaction will establish a long-term partnership between PRIMONIAL REIM France and the COLISEE Group. Short and medium term extensions are already planned within the current perimeter in order to increase the capacity of the facilities.
The facilities are located in the main cities of the following six regions : Ile-deFrance (3), Auvergne-Rhône-Alpes (7), Provence-Alpes-Côte-d’Azur (8), Bourgogne-FrancheComté (9), Alsace Lorraine (3), and Occitanie (3).
Grégory Frapet, Chairman of Primonial REIM France, said: “I am delighted with this major acquisition with the Colisée Group. This transaction – the largest in the European healthcare real estate market this year – perfectly illustrates our development strategy in this asset class which consists of developing strategic partnerships with national or international operators to support their real estate needs, while generating recurring potential rental income for our investor clients over the long term.