A new record for French nursing homes has been set in Paris, in a property deal that values each bed in a Parisian home at nearly €250,000.
Property REIT Viveris has paid €32m for a unit in the 18th arrondissement of Paris. The home will be run by Les Intemporelles, an independent operator that runs another home in the 13th.
Stephane Pichon, CEO of consultancy Your Care, says that the price is a new record: “On average, beds are typically worth €90,000-100,000, so this is a real outlier.” He adds that there remains strong demand for nursing home and hospital sale-and-leaseback properties: “These are perceived to be low-risk investments.”
Source: Healthcare Europe / December 13th 2013