Clearwater International France advises Groupe Colisee on a partnership agreement with Primonial REIM
Clearwater International France has advised Groupe Colisée on a partnership agreement with Primonial REIM.
The partnership aims to boost Primonial REIM and Colisée’s growth at a European level, and particularly in Italy, by generating synergies in the nursing home sector. Under the agreement, Colisée will present to Primonial REIM its plans for investing in retirement homes in Italy, as regards both creating new homes and acquiring existing ones.
The alliance is based on predefined investment conditions, including in relation to rental terms, which will involve long-term leases for all transactions. About 10 projects have been identified at this stage with a value of around €100m, and an exclusivity agreement has already been formed regarding the first Colisée project presented to Primonial REIM.
These transactions will relate to Residenza Sanitaria Assistenziale (RSA) healthcare properties, mainly located in Northern Italy (Piedmont, Lombardy, Veneto, Tuscany and Liguria). These regions offer particularly attractive prospects in the retirement home sector, with the number of people aged over 80 expected to rise by 30% in the next 10 years, and with an equipment rate relatively low compared with demand. These nursing homes will be managed by iSénior, the Colisée group’s local subsidiary, which is renowned for meeting demanding requirements in terms of support and care provided to its residents.