The healthcare arm of French listed firm Icade has completed its first acquisition in the nursing home sector with the purchase of 14 facilities from the Residalya network, a subsidiary of the Ackermans & van Haaren Group, for a total of €189 mln.
Residalya, a major for-profit private nursing home operator in France, will remain the tenant and operator of the properties, under new 12-year leases with no break options.
The buildings are either new or recent and provide close to 1,300 inpatient and outpatient beds in Nouvelle-Aquitaine, Hauts-de-France, Auvergne-Rhône-Alpes and Provence-Alpes-Côte d’Azur.
The deal was first signed in March.
Icade Santé said that the deal is in line with its diversification strategy and also reinforces its position in the healthcare real estate market. The company owns a €4.2 bn healthcare portfolio with annual rents of over €234 mln.