French REIT Icade has announced that its healthcare property business has acquired a four-asset portfolio in France from private investors for €57 mln.
The four healthcare centres acquire by Icade Santé, which is 56.5% owned by Icade, are operated by French private hospital business Ramsay Générale de Santé. The net initial yield of these acquisitions is in line with market average, according to Icade. Icade Santé now has a portfolio of 95 assets including 4 under development.
The assets are the Chalonnais follow-up and rehabilitation care establishment in Châtenoyle-Royal, Saône-et-Loire; the Pont de Gien private psychiatric hospital in Gien, Loiret; the Océane private psychiatric hospital in Le Havre, Seine-Maritime and the Ronsard private psychiatric hospital in Chambray-les-Tours, Indre-et Loire.
These establishments are under leases with no break clauses for an average term of 9.2 years.
Icade also announced that it had signed a preliminary purchase agreement for a fully leased 13,000 m2 office building in Gentilly, next to the Paris ringroad, from an investment fund managed by Oreima, formerly known as Ofi Reim. The investment volume was not disclosed.
