BNP Paribas REIM announced that it has launched “Healthcare Property Fund Europe” (HPF Europe) in the first half of 2020 with initial commitments in equity of nearly 200 million euros.
The current group of investors is made up of pension funds and insurance companies from France, Germany and Italy, the company said. ”New investors should join the group thereafter during the closings of the third and fourth quarters of 2020”.
The fund focuses on healthcare real estate (short, medium or long stay) in the main countries of the euro zone. Healthcare Property Fund Europe plans to build assets over € 1 billion in the medium term with a single exposure to retirement homes and nursing homes, general clinics and hospitals and follow-up care / rehabilitation and mental health centers.
“BNP Paribas REIM is clearly recognized as a trusted partner in the health sector. HPF Europe is another example of our ability to build resilient and targeted investment strategies based on underlying trends across Europe. Demography, especially the aging population, supports this asset class which is becoming more and more important in the allocation of institutional investors , “ said Henri Romnicianu, Head of Institutional Sales.
“HPF Europe is well placed to capture the growth of the European health market and it benefits from our experience in this asset class, coming from our current portfolio of nearly 650 million euros of assets dedicated to health” , added Paul Darribère, Fund Advisor of HPF Europe.