Cuatrecasas Portugal advises Icade Santé on €213m acquisition of RE portfolio

Cuatrecasas Portugal has advised Icade Santé on the €213 million acquisition of a Real Estate portfolio of four private hospitals

pjimage 2022 01 10T081435.734Cuatrecasas Portugal has advised the French group Icade Santé, on the acquisition from Fidelidade of a portfolio of Real Estate assets. These include the Lusíadas hospitals in Lisbon, Boavista and Albufeira, and the Hospital Privado S. Gonçalo, in Lagos. Together they total 500 beds and a built-up surface of approximately 90,000m2. The value of this deal reached €213 million, constituting the first investment by the French group Icade Santé in Portugal.

The operation was carried out through the purchase of 100% of the SaudeInveste Closed Real Estate Investment Fund, majority-owned by Fidelidade and managed by Caixa Gestão de Ativos.

The legal advice for this operation involved an interdisciplinary team from Cuatrecasas Portugal, made up of Nuno Sá Carvalho (pictured left), coordinating partner from the Real Estate and Urban Planning area as well as Sara Quaresma (pictured centre), Gonçalo Nogueira, Francisca Sá Carneiro and Joana Navarro Moreira, respectively partner and associates in the same area. The team also included Paulo Costa Martins (pictured right) and Gonçalo Melo Sampaio, partner and associate, respectively, in the area of ​​Banking & Finance and Capital Markets areas, Pedro Marques Bom and António Souto Moura, coordinating partner and associate in the area of ​​Competition and Union Law European, and Joana Silveira Botelho and Luís Ribeiro Telles, coordinator and associate in the area of ​​Pharmaceuticals and Health Sciences.

Icade Santé focuses its activity on healthcare real estate, accompanying healthcare operators in their strategy of outsourcing real estate development. The group owns more than 180 properties in France, Germany, Italy, Spain and now also in Portugal, valued at more than €6 billion, with a total surface area of ​​more than 2 million square metres.

Michael Heron