Prestbury has contracted to acquire, through its Prestbury 1 Limited Partnership, a £686 mln (EUR 1 bn) freehold portfolio of 21 private hospitals across the UK from Swedish-based healthcare provider Capio. The properties will be leased back on new 30-year leases with annual fixed increases at an initial rent of £40 mln, suggesting a net initial yield of 5.8%. Capio was acquired for EUR 2.8 bn last year by a consortium comprising Apax Partners, Nordic Capital and Apax France.
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