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Primonial REIM annonces the signing of a sale and leaseback agreement to acquire 20 senior care facilities in Germany from EQT INFRASTRUCTURE

Primonial REIM has announced the signing of a sale-and-leaseback agreement on behalf of SCPI PRIMOVIE with the Charleston group to acquire a portfolio of 20 senior care facilities in Germany from EQT Infrastructure.

The portfolio of 20 assets located across six German states, includes 1830 beds, 38 adult day care slots, and 48 apartments over a total surface area of about 120,000m2.

The establishments will be fully leased for 25 years to Charleston, a German private provider of senior care and assistance services.

Transfer of ownership is subject to the fulfilment of conditions precedent.

Grégory Frapet, Chairman of the Primonial REIM Executive Board, said: “We are delighted to sign this  sales agreement, which will allow Primonial REIM, the European leader in healthcare and educational real estate, to expand its footprint in Germany. This agreement with the Charleston group, a major private healthcare operator in Germany, illustrates our strategy of assisting tenant-operators in their real estate challenges through the solid long-term relationship that Primovie will have.”    

This agreement is being signed at the same time as the one between EQT Infrastructure and KOS, under which KOS will acquire all of the Charleston’s operating assets, which, to date include 47 medicated senior care homes.

In this acquisition, Primonial REIM was advised on the legal and tax issues of the acquisition by Clifford Chance, on technical issues by TA Europe, and by eRE (element Real Estate).

About Primonial REIM

Primonial REIM is a portfolio management company that was authorised by the Autorité des Marchés Financiers (AMF) in 2011. Its purpose is to design and manage a range of investment vehicles that reflect its strong convictions about real-estate markets. Its aim is to make SCPI real-estate funds – investing in office, retail, healthcare/education and residential properties – available to the widest possible audience.

As a portfolio management company, Primonial REIM creates and manages real-estate CIUs for institutional and retail investors. On 10 June 2014, Primonial REIM obtained AIFM (Alternative Investment Fund Manager) authorisation from the AMF, under which it is subject to increased obligations in areas such as reporting, liquidity monitoring and risk management. Its Executive Board consists of Grégory Frapet, Chairman, Stéphanie Lacroix, CEO and Tristan Mahaut, Corporate Secretary.

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Key figures

€22bn
Assets under management
45
Investment funds
70 170
Shareholders
4 392 387
m2 leased
7 000
tenants
7
European countries
1 Source : Primonial REIM 30 June 2020

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PRIMONIAL REIM press contacts

Anne-Christine BAUDIN Communication Director
Primonial group

anne-christine.baudin@primonial.fr
01 44 21 70 74
06 70 21 91 42

Carole MAZURIER External Communication Manager - Primonial group

carole.mazurier@primonial.fr
01 44 21 71 48
07 87 78 96 53

Tom RUVIRA / Kristell LE NADAN Media agency
Citigate Dewe Rogerson

Primonial@citigatedewerogerson.com
07 60 90 89 18
06 98 49 22 27