[GERMANY] Primonial REIM acquires a portfolio of retirement homes for €994 million

Primonial REIM continues to make a concerted investment in healthcare property. Having this year acquired the portfolios of Gecina €138.70 | +0.04% and of Foncière des Régions in this sector for €1.35 billion and €300 million respectively, Laurent Fléchet’s property company has acquired a portfolio of 68 retirement homes in Germany for €994 million according to Le Figaro. A transaction confirmed by Primonial to Business Immo. These establishments were acquired from Swiss families and are primarily located around Munich, Hamburg and Dresden. Korian operates around ten of them.

Involved in the operation:

_ M&A advisors: element Real Estate (Henri Haquin) / Easton Clearwater (Laurent CamilliJulie Duvillier-Raoul, Julien Choppin, Matthias Krimmel)

_ Legal advisors: Lefèvre Pelletier & associés (Fabian TrossBernd SpiethFrançois-Régis Fabre-FalretAndreas Feuerstein) / Clément & Avocats (Ted Fisher) / GSK Stockmann + Kollegen (Wolfgang Jegodka)

_ Financial due diligence and structuring:Fidal (Jean-Etienne Chatelon) / KPMG Germany (Stefan Schmidt, Andreas Griesbach) / KPMG Luxembourg (Pierre Kreemer, Cecilia Paiva)

_ Financial due diligence: KPMG Germany (Niels Buck, Sebastian Pusch, Frank Mäder) / KPMG Luxembourg (Olivier Lacour Royre d’Autriche)

_ Operational and property due diligence: Your Care Consult (Stéphane Pichon)

_ Technical due diligence: JLL Germany (Annika Feige)

_ Environmental due diligence: ERM Germany (Jens Wrabel)

On 30th July, the holdings managed by Primonial REIM comprised 30% healthcare premises, 55% offices, 15% residences and businesses.