On 11 April, Icade announced the acquisition by Icade Santé of twelve medium and long-stay health assets: seven residential facilities for dependent elderly people (French acronym: Ehpad), four follow-up care and rehabilitation clinics (French acronym: SRH) and one psychiatric clinic.
The transaction was carried out with an Organisme de placement professionnel collectif immobilier (OPPCI, open-ended property fund) for an amount of €191mn. The twelve establishments which are mainly located in Normandy and in the PACA region offer a total of close to 1,320 beds and spaces over a total surface area of 70,100 sq.m.
With this transaction, Icade Santé - a 56.8% Icade subsidiary - continues its strategy to diversify in the long-term accommodation sector and solidifies its position as a leader in health real estate, with a total portfolio of 127 assets (including 21 Ehpads), for a total value of over €4.7bn.