The Primonial group has acquired three social infrastructure assets on behalf of its Pan-European ESI fund, AIF Luxembourg.
The ESI fund is an open-ended institutional fund invested in socially responsible real estate assets in the healthcare, education and affordable housing sectors in Europe. Primonial group is aiming to grow the fund’s assets under management to €1 billion ($1.2 billion) by 2022.
The fund purchased three clinics (medicine, surgery, obstetrics) in France following the sale and leaseback operation. The vehicle now owns 26 real estate assets in France, Germany and Austria, valued at more than €400 million ($468 million).
The three clinics, located in the French cities of Saint-Malo, Brest and Annecy, have a surface area of nearly 29,000 square meters (312,153 square feet) and a total capacity of 451 beds. They are entirely leased to the Vivalto Sante Group for a fixed term of 12 years.
“This acquisition is in line with the ESI fun
