Clearwater International advises Elis on the sale of a real estate portfolio of 17 assets
Clearwater International has advised Elis on the sale of a real estate portfolio of 17 assets to Foncière Atland and Tikehau.
Elis is a multi-services group and a market leader in the professional rental and cleaning of textile and clothing in Europe and Brazil. It also offers complementary services in floor cleaning, sanitary and hygiene facilities, and beverage services. With 18,000 employees in 10 countries, Elis generated revenue of €1.18bn in 2012.
Elis has signed a provisional sales agreement with Foncière Atland and the Tikehau group, covering 17 operating assets, located in France, for a total amount of around € 80m. This sale & leaseback has been signed based on long term leases and includes a real estate assistance agreement with the buyers.
Foncière Atland and Tikehau are both private investment companies specialising in property. The acquisition will be done through an OPCI, of which Foncière Atland and Tikehau will be shareholders alongside institutional and private investors.