Icade has signed preliminary agreements with ORPEA to acquire a real estate portfolio of nine nursing homes, including eight in Germany and one in France, for a total of €145 million ($168 million) including duties.
“This first transaction with ORPEA, one of Europe’s leading elderly care specialists, is fully consistent with Icade’s strategy to help large healthcare operators successfully execute their expansion strategy in continental Europe. It furthers Icade’s international diversification strategy with respect to its healthcare property investments. This deal brings the total to €580 million [$672 million] in international investments made by the Healthcare Property Investment Division to date, including €390 million [$452 million] in Germany, one of the three countries targeted outside France. The healthcare property investment market has remained active, and we are confident that it will continue along this trajectory,” said Olivier Wigniolle, CEO of Ica
