Icade Santé adds €47m of assets to portfolio ahead of planned IPO

French REIT Icade’s 58%-owned healthcare property arm, Icade Santé, has acquired four healthcare facilities in France for a total of around €47 mln.

Three assets were bought in a sale-and-leaseback transaction with operator Korian and one facility was acquired from several private investors.

Located in Le Chambon-sur-Lignon (Haute-Loire), Champcueil (Essonne), Rouffiac-Tolosan (Haute-Garonne) and Choisy-le-Roi (Val-de-Marne), the four facilities – two post-acute care assets and two nursing homes - cover around 15,000 m2 with a capacity of nearly 340 beds.

These four acquisitions bring to 22 the number of assets acquired since 2017 from Korian or developed under the partnership agreement signed in 2017 by Korian (operator), Icade Promotion (developer) and Icade Santé (investor).

Following these acquisitions, the portfolio of the Healthcare Property Investment Division (in France and abroad) is composed of 183 properties, including 40 assets located outside France, for a total value of €5.7 bn.

Icade announced earlier this year that it is planning to IPO Icade Santé by the end of the year, subject to market conditions.


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