Praemia REIM has increased its stake to 100% (from 51%) of the share capital of CAREIT Group, a specialist in healthcare and medical-social real estate in France, to become the sole shareholder.
Praemia REIM had acquired 51% of CAREIT’s asset and property management activities in 2020. These activities today cover approximately 360 healthcare facilities for Praemia REIM. By becoming the sole shareholder, Praemia REIM strengthens its position as Europe’s leading healthcare real estate asset manager, in a sector driven by strong demand and long-term demographic trends.
The acquisition, the culmination of over ten years of collaboration between Praemia REIM and CAREIT, reinforces the group’s growth trajectory and is part of Praemia REIM’s strategy to offer integrated expertise and consolidate its European leadership in a fast-growing sector. It enables Praemia REIM to strengthen its presence across the entire healthcare real estate value chain within its European platform: investment, fund management, asset management, project management and property management.
“By increasing our stake to 100% in CAREIT’s asset management and property management activities, we are continuing our expansion and consolidating our European leadership in healthcare real estate,” said Laurent Fléchet, chairman of Praemia REIM. “The integration of the CAREIT asset & property management teams strengthens our expertise and our ability to create value, serving both our operator tenants and our investors.”
Praemia REIM is the only European asset manager capable of offering its clients leading integrated expertise, serving the performance and social utility of the assets under management.
The relevant CAREIT employees, who bring specialised expertise in healthcare asset management, are joining Praemia REIM’s teams, bringing the group’s total workforce to nearly 500 employees across Europe. Filippo Monteleone, founder of CAREIT, will continue to support the Præmia REIM group as senior advisor for development and institutional relations in the sector.
“We have supported Praemia in building its healthcare offering,” said Monteleone states. “I am delighted to continue supporting, in my new role, this European leader in real estate asset management.”
The CAREIT Group will continue its advisory, investment and real estate project development activities in the healthcare and medical-social sectors.
Praemia REIM’s European healthcare real estate platform today represents €17bn in AUM. It diversified, long-term European portfolio comprises over 750 properties (clinics, retirement homes, nursing homes annd other medical-social facilities), across eight European countries.
