PropertyEU - May 14, 2008
French property developer Icade has acquired two healthcare assets in Nantes for EUR 73 million from nursing home operator Vedici. The company bought the Polyclinique de l'Atlantique in Saint Herblain, France's leading maternity clinic with total capacity of 269 beds, and the Centre de Soins de Suite de Roz Arvor in Nantes with a capacity of 80 beds. The Vedici Group is leasing back the properties under a 12-year lease. Icade has a development portfolio of public and healthcare assets of about 205,000 m2. Other 158,000 m2 of space have already been brought to the market.
The French builder, which is chaired by Serge Grzybowski, added that it has been hired by Crédit Lyonnais’ bank LCL to construct its headquarters in Villejuif. LCL will rent back the Metropolitan office complex, which consists of 60,000 m2 of space across four buildings. The first asset is scheduled to be delivered in early 2009, while completion for the three others is expected for 2012.
In the beginning of May, Icade and its business partner ING Real Estate signed contracts with IVG to develop three buildings within the new Claude Bernard business park in the 19th arrondissement of Paris. The contracts are for the construction of 40,000 m2 of office space across three properties. Construction work is scheduled to begin in the first quarter of 2009, with completion in 2011. The company posted turnover of EUR 1.5bn in 2007.
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