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French Group Primonial Buys 6 Nursing Homes in Spain for €35M

Posted by: In: Real Estate 08 Mar 2018 Comments: 0 Tags: , , , , , , , , , , ,
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5 March 2018 – Eje Prime

Primonial is buying more assets in Spain. The French fund manager has signed an agreement with the nursing home management group La Saleta Care (owned by the Belgian group Armonea) to purchase six of its nursing homes in the Community of Valencia for €35 million, according to explanations provided by the group in a statement.

The fund has acquired six La Saleta nursing homes, containing 800 beds and day places in total, in the Community of Valencia, with a combined surface area of almost 21,500 m2. The six centres are going to continue to be leased to the operator La Saleta Care, through a new commercial lease with a fixed duration of 25 years.

This is the second operation that the group has signed in Spain. The company, which owns a portfolio containing more than €10.7 billion of assets under management, purchased the Sant Antoni Clinic, located in La Marina del Port, in Barcelona, last September, for €20 million.

Both operations form part of the trend by international funds to acquire alternative assets in Spain. In each case, the real estate consultancy JLL has brokered the operations.

Original story: Eje Prime

Translation: Carmel Drake

The post French Group Primonial Buys 6 Nursing Homes in Spain for €35M appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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