BNP Paribas Real Estate Investment Management Belgium announced yesterday it has acquired from Baltisse Real Estate five healthcare properties in Flanders with a total area of 33,000 sq m and a combined capacity of 510 beds.
Four of the properties are located close to three major cities – Brussels, Antwerp and Ghent – while the fifth is in Maasmechelen, not far from Maastricht and close to the Dutch border. The acquisition was made on behalf of Healthcare Property Fund Europe (HPF Europe), managed by BNP Paribas REIM, which aims to provide diversification in the healthcare sector in Eurozone countries.
“HPF Europe continues to expand its healthcare portfolio via this off-market transaction, which is the fund’s first acquisition in the Benelux region,” said Casper van der Woude, director, BNP Paribas REIM Belgium. “This acquisition fits perfectly with the fund’s strategy to diversify geographically in the Eurozone. We are extremely pleased to have purchased this nursing home portfolio that meets the needs of the continuing ageing population in Belgium.”
The nursing homes are being operated by renowned and reliable specialists. Triple net agreements were concluded for all assets, of which the average remaining term is approximately 20 years. They are all fully indexed on a yearly basis.
BNP Paribas REIM’s strategy is based on three main pillars: investing in different types of healthcare real estate, having a wide geographical exposure in Europe and establishing a long-term partnership approach with operator tenants.
After investing in the healthcare real estate sector since 2011, the group has a portfolio of around 80 properties in Europe. Ten health establishments are currently being built or extended in Spain, Germany, Italy and France, with a view to developing the healthcare offer.
HPF Europe, which was launched in March 2020, has reached two milestones: €1 billion in inflows and €2 billion in investments and disposals.
2022 was a strong year for the fund, with around 30 new acquisitions of healthcare facilities in Spain and Italy in the long-stay nursing home segment; in France, in short and medium-stay clinics and hospitals and in the long-stay nursing home segment; and in Germany, in the medium-stay clinics and long-stay nursing home segment.
“We are keen to develop our healthcare portfolio in 2023 and to continue building resilient and sustainable investment strategies in Europe, notably through HPF Europe,” said Paul Darribère, head of fund management, BNP Paribas REIM France. “Our expertise and conviction in this market also makes it possible for some of our funds to diversify into the healthcare sector, which looks to be one of the most resilient, given its fundamental and a-cyclical features.”
Author: Nicol Dynes
Source: Real Asset Insight