TwentyTwo Real Estate has completed, alongside Farallon Capital, of a €761 million ($883 million) investment that led to the creation of Isemia, a healthcare real estate company holding a €1.2 billion ($1.4 billion) portfolio of assets operated by emeis.
Isemia comprises 68 high-quality assets across France, Germany and Spain, with a balanced mix of nursing homes (48 percent) and clinics (52 percent). The portfolio benefits from strong fundamentals and resilient operating performance. All properties will continue to be operated by emeis under long-term lease agreements, ensuring continuity of care for residents and patients while maintaining close alignment between real estate ownership and operations.
The investment has been structured through the subscription of financial securities, including preferred shares, designed to deliver stable and predictable returns, with a minimum 6 percent yield and an expected unlevered IRR of approximately 12 percent.
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