The portfolio, made up of residences for the elderly and mental health centers, includes a new construction project and four others that are being renovated, and, currently, has a net equity value of 200 million euros, according to the group of French origin. , which in 2021 acquired ITA Salud Mental in Spain.
However, additional investment in the development and refurbishment of new facilities, which will take place between 2022 and 2024, will raise the gross value of the portfolio to 320 million euros, calculates Korian.
The association between BAE Systems Pension Fund and Korian lasts for fifteen years, renewable, with a minimum of seven years. And the expected remuneration is 4.5% per year, explains the French care services company.
In Spain, Korian manages more than 16 assets, which exceed 2,100 beds and has more than 700 employees in the country. For its part, the British BAE Systems Pension invests in real estate assets, infrastructure, assets in alternative markets and other private markets worldwide, as well as in listed shares and fixed income.