PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Primonial REIM acquires Gecimed portfolio

Primonial REIM has acquired Gecina’s healthcare division, Gecimed portfolio.

Clearwater International advised Primonial REIM on the strategic and financial analysis of the portfolio, raising the equity and debt, the organisation of due diligences and negotiations with the seller.
 
Primonial REIM acted for a club deal, gathering several institutional investors. 
 
The portfolio includes 74 clinics and nursing homes for a total of 8,400 beds, valued at circa EUR1.35 billion, which reflects a net yield of 5.9 per cent.
 
Primonial REIM is one of the main real estate investors in the French market with EUR2 billion invested in 2015; this deal takes its property assets to EUR10 billion.
 
Clearwater says the healthcare real estate sector remains an attractive investment opportunity, with appealing returns and fixed or long-term leases. M&A activity in this sector continues to rise, primarily in hospitals, local medical centres and elderly care type of assets, stemming from strong demographics and the ageing population.
 
Clearwater International advised Primonial REIM on the acquisition, led by partner Laurent Camilli and supported by Director Julie Duvillier-Raoul.
 
Camilli says: “We are delighted to have advised Primonial REIM on this complex transaction: this investment offers them the opportunity to become one of the leading player in the European healthcare real estate market. We wish them all the best in taking the portfolio forward."

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured