Korian: long-term property investment agreement
(CercleFinance.com) - Korian announces that it has entered into a long-term real estate investment agreement in December 2021 for an investment of approximately 100 million euros by BAE Systems Pension Funds in a new real estate vehicle that is managed and controlled by Korian.
This vehicle concerns a portfolio of 23 real estate assets (long-term care and healthcare facilities) in Europe, including a greenfield project, for a net asset value of approximately 200 million euros, representing a gross value of approximately 320 million euros.
This partnership, which enables Korian to capitalise on the attractiveness of its portfolio, is subject to a 15-year extendable term and a minimum holding period of seven years for BAE Systems Pension Funds. It has an expected annual yield of approximately 4.5%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.