Icade Santé has invested 60 million euros in six long-term residential properties with the aim of expanding its international portfolio in Spain. These are assets linked to the health sector, including nursing homes. The operation represents a total of 586 beds, as published by the French real estate investment company on its website.
The lot has a total area of more than 26,000 square meters, with an average value of 2,300 euros per square meter. Five of the facilities are located in Madrid.
The assets will be operated under new long-term triple net leases with no option to discontinue. Being already leased, five of them will generate cash flows immediately, according to Icade. The purchase of the last asset is scheduled for the end of this year, after obtaining the required permits. So far, its exact location is unknown.
The recent acquisition allows Icade Santé to continue its expansion in the long-term care segment in Spain after a first investment in the short-term care segment in January. In addition, with this new investment, which marks the beginning of a new collaboration with the health operator Colisée Group, Icade Santé increases its diversification in private health centers in the attractive Spanish market.
In fact, this is not the first time that Icade has invested in Spain. Last January, the company bought the building of the Ocular Microsurgery Institute (IMO Grupo Miranza), located in Mirasierra (Madrid), for 13 million euros.
