Tuesday, January 05, 2010

Quiron Group Closes EUR 55 Million Sale Leaseback of Private Clinic in Spain

PropertyEU - November 30, 2009

Spanish lender Banco Sabadell has acquired the new Quiron Vizcaya private clinic in Bilbao, Northern Spain in a EUR 55 mln sale-and-leaseback agreement with Spanish healthcare operator Quiron Group. The financial institution said the property is earmarked for its Sabadell BS Inmobiliario FII real estate fund.

The Quiron Vizcaya clinic opened its doors last week and is the largest private hospital in the Vizcaya region of Spain. It offers around 19,000 m2 of total space distributed across 155 rooms. The Quiron Group has agreed to continue to occupy and operate the property for the next 20 years.

The Spanish healthcare operator has opened a number of new centres in recent months including new clinics in Madrid and Barcelona while a new centre planned for Valencia is due to open in 2011.

Sabadell's real estate fund has so far invested in a total of 44 properties totalling some 500,000 m2 of commercial space. Clinics and nursing homes represent nearly 20% of the assets in the fund, which delivered annual returns of 3.84% over the past 36 months. Sphere: Related Content

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