La Française Real Estate Managers (REM), acting on behalf of two collective real estate investment vehicles, has acquired a portfolio of five healthcare assets in France from the private hospital group Elsan for €120 million in a sale and leaseback transaction.
The portfolio includes three medical and rehabilitation centres (centres de soins médicaux et de réadaptation – SMR) and two clinics specialising in medicine, surgery and obstetrics (médecine, chirurgie, obstétrique – MCO), all of which will be let to Elsan under long-term leases.
As part of this strategic partnership, La Française Real Estate Managers and Elsan have agreed to set up a modernisation fund for healthcare establishments, financed jointly by Elsan (the operator) and La Française REM (the lessor).
This fund will help finance projects to modernise and improve reception conditions and work to improve the energy and environmental performance of all the establishments concerned.
Jérôme Valade, Head of healthcare assets at La Française REM concluded: “The acquisition of this portfolio of five clinics marks the start of a long-term partnership with Elsan, and we look forward to repeating this type of operation together. Indeed, the joint modernisation fund which will support these assets in the climate transition towards a better energy and environmental footprint reflects our shared commitment to responsible real estate asset management.”
Simon Levy, Chief Executive Officer of the Elsan Group: “This new strategic partnership is in line with ELSAN’s desire to continue developing the activities of its establishments by joining forces with a major player in the healthcare real estate sector. We also want to continue to work with La Française REM to invest in modernising and improving conditions for our patients, while ensuring the energy and
environmental transition of our facilities.”
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
