EDF: signs real estate deal with Korian

(CercleFinance.com) - Korian announces that it has reached an agreement with BNP Paribas Cardif and EDF Invest providing for a long-term investment in a real estate vehicle controlled and managed by the care home group.


This dedicated structure holds 81 assets found in France, Germany, Italy and Belgium, which are worth a total of 1 billion euros. The portfolio includes retirement homes and clinics, a third of which have been built or restored in the past five years.

BNP Paribas Cardif and EDF Invest each invested a total of 336 million euros, i.e. 49% of the real estate vehicle. The agreement, which is for a 15-year term, which may be extended, provides for a minimum holding period of seven years for the investors.


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