French company Icade Santé buys Lusíadas hospital buildings for €213 million
Icade Santé has bought the SaúdeInveste fund, which includes the Lusíadas hospitals located in Boavista, Lisbon and Albufeira and the private hospital S. Gonçalo, in Lagos.
Icade Santé, owned by Healthcare Property Investment Division, are the new owners of the buildings where the Lusíadas da Boavista and Albufeira hospitals are located. The operation was carried out through the purchase of 100% of the SaúdeInveste fund, owned by Fidelidade, the parties announced in a statement.
The SaúdeInveste fund’s assets include the Lusíadas hospitals located in Boavista, Albufeira and Lisbon, operated by the Lusíadas Group, and the private hospital S. Gonçalo, in Lagos, managed by the HPA Saúde Group.
The deal was closed for €213 million, in what is the first investment by French company Icade Santé in the Portuguese healthcare real estate market. In a statement, the buyers justify this acquisition with “favourable long-term demographic trends and ongoing consolidation processes in Portugal’s private hospital sector.”
“This is a very important transaction for the health real estate sector in Portugal, with a record yield (below 5%),” Igor Borrego, director of Capital Advisors at CBRE, which advised Fidelidade on this operation, explains to ECO.
Icade Santé is a European leader in healthcare real estate dedicated to helping healthcare and senior services providers successfully execute their sale-and-leaseback and property development strategies. The company is currently present in five countries (France, Germany, Italy, Spain and Portugal), with an estimated portfolio of €6.9 billion.