As part of this structurally-important operation:
- Primonial REIM takes on the management of Icade’s entire healthcare property portfolio, valued at over €7 billion;
- Primonial REIM consolidates its position as the undisputed leader in healthcare property in Europe, with over €18 billion under management within this asset class;
- Icade Santé becomes Praemia Healthcare.
As part of this transaction, Primonial REIM takes on from today the management of the property assets held by Icade Santé/Praemia Healthcare, valued at €6.2 billion and comprising of a highquality portfolio, unique in France, mainly made up of short-stay establishments (medicine/surgery/obstetrics clinics). In the context of this deal, Primonial REIM is also taking over management of the Icade Healthcare Europe portfolio, valued at €850m, which is due to be sold according to a timeframe designed to optimize its value.
The Icade Santé team, made up of 42 employees, will join Primonial REIM and remain in charge of the delegated management of the property portfolio.
This structurally-important transaction reflects Primonial REIM’s strategic willingness to strengthen its allocation in healthcare real-estate infrastructure, a resilient and acyclical asset class driven by long-term demographic trends, while at the same time diversifying its existing property portfolio.
You can read the full press release now at the link below