Icade has just made a new investment in Italy, with the acquisition of seven nursing homes. This transaction is part of Icade's ongoing international diversification of its investments in healthcare real estate.
Icade, via the Salute Italia fund* dedicated to real estate investment in Italy, has agreed to the acquisition of five retirement care homes (Residenze Sanitarie Assistenziali/RSA) and pledged to acquire two more institutions subject to securing the necessary authorisations for managing them.
The seven properties, located in northern Italy, provide 582 beds in total, which will continue to be managed by the Sereni Orizzonti group – a leading RSA operator in Italy – under two fixed leases covering a 29-year period.
This transaction is part of the ongoing international diversification of Icade investments into healthcare real estate. It rounds off the project signed with Numeria SGR S.p.A. and Gheron in 2018 (1,020 beds) and acquisition in Jesolo in February (120 beds).
* Salute Italia is a fund managed by Numeria SGR S.p.A. and 100% owned by Icade Healthcare Europe, with 59% held by Icade.