Fairway advised Black Swan Real Estate Capital on the acquisition of a 6,000 sq. m. retail lot from a French institutional investor on behalf of ClubFunding Group in co-investment with a British investment fund. The retail complex, which includes 150 underground parking spaces, is located on Boulevard de Grenelle in the 15th arrondissement of Paris, near the Eiffel Tower and the Champ-de-Mars. The building is fully leased to the Castorama chain.
Fairway advised Primonial REIM on the real estate, corporate and financing aspects of the acquisition of the Rock portfolio, a portfolio of healthcare assets comprising nearly 23,000 square meters of floor space spread across five nursing homes located in Pernes, Saint-Avold, Évreux, Le Havre and Saint-Parres-aux-Tertres. The assets, which combine medical care and adapted accommodation in serviced residences, are operated by Colisée. This acquisition is the largest healthcare real estate transaction of the year 2022.
Fairway advised Primonial REIM France on the real estate, corporate and financing aspects of the acquisition of 8 healthcare facilities, clinics and homes for the dependent elderly, from BNP Paribas REIM on behalf of its SCPI Primovie. This acquisition follows the purchase of the first 4 assets at the end of October. The portfolio consists of assets with diversified activities: MCO clinics, SSR and psychiatric clinics, and EHPAD. The 12 establishments have a total surface area of just over 78,600m² and represent a capacity of more than 1,340 beds and places. The various establishments are located in the following French regions Auvergne-Rhône-Alpes (3), Centre-Val de Loire (1), Hauts-de-France (1), Ile-de-France (2), Normandy (1), Occitania (2) and Provence-Alpes-Côte-d’Azur (2).
The assets are fully leased, under long-term fixed leases, to two leading tenants in Europe and renowned in the healthcare market: Korian and Ramsay Santé.
Grégory Frapet, Chairman of the Management Board of Primonial REIM France, said in the presse release : “Healthcare real estate will be at the heart of our strategy for 2023 and this major acquisition fits perfectly with our roadmap. It allows Primonial REIM to further consolidate its partnership relationships with healthcare operators. Our ambition is to finance quality real estate infrastructures in France and Europe and thus consolidate our status as a leading European platform for healthcare real estate.
Fairway advised AG2R la mondiale, In’li and BNP Paribas REIM (the latter also represented by Baker&McKenzie) in the creation of the real estate company RésiCoffim. This real estate company will invest in quality, sustainable housing near transportation and employment areas. Asset and fund management will be provided by Coffim AM Rési, a subsidiary of the Coffim Group, which is launching a new asset management activity.
Initially, AG2R La Mondiale, In’li and BNP Paribas REIM intend to invest €120 million of their own funds in the Île-de-France region, in new residential assets with “high environmental performance” and a “high proportion of intermediate housing”. “The aim is to promote access to housing for the middle classes and young professionals by contributing to the development of a quality and affordable offer, located in dynamic and well-serviced areas where the need is great”, the press release states..
RésiCoffim aims to acquire a portion of the programs developed by Coffim, a national real estate development group, in the the Île-de-France region. A first asset has already been reserved and the real estate company is aiming for a strong development in 2023.
Fairway (Cloé Teisson, Counsel – Frédéric Lefébure, Partner) advised Financière Saint James in the acquisition, in partnership with Herrmann Frères & Fils Immeubles and from Abeille REIM, of a prime Haussmann building located at 15 rue d’Astorg in the 8th district of Paris. This building has a surface area of approximately 2,500 sq.m. in the ground floor + 5 floors.