Europe healthcare property sector not majorly impacted by COVID-19 crisis
The COVID-19 crisis has not had a major impact on healthcare real estate assets and the sector is predicted to have a strong 2021.
The message, delivered by BNP Paribas REIM, is based on the both the performance and interest generated by the manager’s Healthcare Property Fund Europe (HPF Europe), which it launched in March 2020. It has attracted more than €300 million in equity commitments since its launch, originating from pension funds and insurance companies based in France, Germany and Italy.
The lead fund manager for HPF Europe, Paul Darribère, says that the crisis has not lead to a demand for rent cancellations, nor has it lead to an impact on returns. The fund invests in European short-, medium- and long-stay properties, consisting of general hospitals and clinics, rehabilitation centres, and nursing homes.
“It has been more difficult after lockdowns [in various countries] to admit new residents into nursing homes,” says Darribère, “but this h