Icade acquires nursing homes in Italy, France
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Icade real estate company acquired four nursing homes 2 (Residenze Sanitarie Assistenziali, RSA) and a psychiatric establishment, for a total amount of 36 million euros in Italy.
The acquisition of the portfolio is part of a sale and lease back transaction with the operator La Villa3.
The five establishments, located in the regions from Aosta Valley, Tuscany, Emilia Romagna, Piedmont and Lombardy, totaling 493 beds and will be operated by the La Villa Group with 30-year leases with no termination option.
All assets acquired will generate immediate cash flow. This operation is the first with La Villa Group, the Italian subsidiary of the French group Maisons de Famille.
Specializing in care for the elderly but also in psychiatry, the La Villa Group is a leading operator in this segment in Italy, where it currently operates 43 establishments (around 3,400 beds). This operation brings to 21 the number of establishments in operation owned by Icade Santé in Italy, with a portfolio value of around 150 million euros.
This comes as Icade Santé has also signed a preliminary agreement with a French investor for the acquisition of a portfolio of five assets operated by Korian and located in France for an amount of 64.1 million euros.
The portfolio consists of four nursing homes in Paris (14th arrondissement), Noisy-le-Grand (Seine-Saint-Denis), Grainville-sur-Odon (Calvados) and Vaivre-et-Montoille (Haute-Saône), in addition to a psychiatric establishment in Barbazan-Debat (Hautes-Pyrénées). Totaling nearly 17,000 m², the properties have a capacity of 396 beds and places
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