Clearwater International advises Medica France on the sale & leaseback of a real estate portfolio
Clearwater International has advised Medica France on the sale & leaseback of a real estate portfolio for €131m.
Medica group is a leading provider of long and short-term dependency care in France. It operates in both the long-term care sector, with nursing homes in France and Italy, and in the post-acute and psychiatric care sector. In these two sectors, the Group operated a total of around 16,600 beds and employed more than 9,200 people as of 30 September 2012.
Medica has signed a property sale & leaseback transaction for € 131m over a 12-year term, as part of a club-deal bringing together Natixis Lease Immo, as syndicate leader and Oseo and Banque Postale Crédit Entreprises, as club-deal members. Medica maintains control over its assets with a buy back option.
Entering into a property sale and leaseback transaction will enable Medica to continue diversifying and optimising its financing terms by setting up a long-term property loan.