Primonial REIM announces that it has finalised the acquisition of seven day-care centres in the Netherlands on behalf of its real-estate fund the SCPI Primovie, the leading real-estate fund for health and educational facilities in Europe. This is the first transaction carried out by the fund in the Netherlands.
The property portfolio consists of seven day-care centres representing a total of 4,800 m² at a cost of €12.8 million. These childcare facilities are located in the main Dutch cities where the demand for childcare places is very high: The Hague (2), Utrecht (2), Nieuwegein, Zeewolde and Houten.
All of these assets are currently leased and occupied by Partou, the largest childcare operator in the Netherlands, under a long-term lease.
Primonial REIM Board Chairman Grégory Frapet said: "We are continuing our development with the acquisition of this portfolio in educational facilities, a first for the SCPI Primovie in the Netherlands. This transaction is fully in line with the fund's investment strategy: to position itself in socially useful assets that generate potential returns over the long term. Through long-term leases with leading operators, we offer our investor clients visibility on future revenues.”
Primovie is an open-ended real estate investment company created in July 2012, a leader in healthcare and educational facilities in Europe with a capitalisation of over €3 billion. It allows to invest in the eurozone in assets such as day-care centres, schools and training centres, retirement homes, senior residences, clinics and nursing homes.
For this transaction, Primonial REIM was advised by Codabel (Arnaud du Pont) for the commercial part, Kennedy Van der Laan (Nico Jacobs) for the legal part and CBRE for the technical part.
About Primonial REIM
Primonial REIM is a portfolio management company that was authorised by the Autorité des Marchés Financiers (AMF) in 2011. Its purpose is to design and manage a range of investment vehicles that reflect its strong convictions about real-estate markets. Its aim is to make SCPI real-estate funds – investing in office, retail, healthcare/education and residential properties – available to the widest possible audience.
As a portfolio management company, Primonial REIM creates and manages real-estate CIUs for institutional and retail investors. On 10 June 2014, Primonial REIM obtained AIFM (Alternative Investment Fund Manager) authorisation from the AMF, under which it is subject to increased obligations in areas such as reporting, liquidity monitoring and risk management. Its Executive Board consists of Grégory Frapet, Chairman, Stéphanie Lacroix, CEO and Tristan Mahaut, Corporate Secretary.
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