Icade: acquisition in Spain and sells clinics in France

(CercleFinance.com) - Icade has announced that at end of last month, its healthcare real estate company signed an agreement to acquire the premises of six long-stay establishments in Spain for a total of 60 million euros, including tax.
These establishments have 586 beds and 220 places in day care.

The six facilities will be operated under new long-term triple net leases. Five of them are already in operation and therefore generate immediate cash flow. The acquisition of the last asset is expected by the end of 2022.

In addition, following the synallagmatic promise of sale signed with a French institutional investor on 29 March, at the end of June Icade Santé completed the sale of the premises of four clinics located in France for 78 million euros (net selling price).


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