SPB in the acquisition of six long-term care facilities
Icade’s Healthcare Property Investment Division1 acquired the property assets of
six long-term care facilities in Spain for €60m including duties.
Totalling 586 beds and 220 outpatient places, these six facilities represent a total floor area of over
26,000 sq.m. The average value per square meter is c. €2,300. Five facilities are located in the Madrid
region, Spain’s most dynamic area.
The six facilities will be operated under new long-term triple net leases with no break option. Five out
of the six are operating assets immediately generating cash flows, with the remaining asset expected
to be acquired by the end of 2022 once the required permits have been obtained.
This acquisition allows Icade Santé to further expand into the long-term care segment in Spain after a
first investment in the short-term care segment in January.
Through this investment, which marks the start of a new collaboration with leading healthcare
operator Colisée Group, Icade Santé further diversifies into private healthcare facilities in the
appealing Spanish market.
Squire Patton Boggs has advised Colisée with Rocío García (pictured right), Alejandra Castañeda Ferrer (pictured in the middle) and Mónica Sebares Sánchez (pictured left).
