Health care looks like the promised land to property investors hit hard by the collapse of retail and office and deal flow is picking up, says John Gladstone at global real estate advisors.
UBS managing director Martin Henrichs joins investors in a discussion on valuations and demand post-Covid. Will a mountain of dry powder keep multiples high? And what sectors are the most attractive? Panel includes: Tobias Küng, Managing Director, EQT Partners, Xavier Cheval, Head of Healthcare Property Investment, Icade Sante, Ravi Umarji, Vice President, PG Capital
REIT Healthcare Activos Yield has listed on the Euronext Access Paris, while its sister company Healthcare Activos has made its first acquisition outside of Spain, CEO of the management company for both tells HBI. He talks us through the listing and the long-term impact of COVID-19 on the development of the Spanish care home sector.
Europe's largest elderly care operator Orpea is preparing to strike more sale-and-leaseback deals with big REITs after concluding a €145m deal with Icade in Germany. HBI expects a flurry of deals may follow as part of a £1.5bn propco sell-off which will fuel further acquisitions. We talk to property investment sources about where else it might sell, potential buyers and the yields they can expect.
COVID-19 is likely to accelerate the trend of hospital and care home operators selling off real estate, investors tell HBI, and the pandemic may significantly alter how care homes are designed in future.
Property investors see healthcare as a far more attractive option than bombed-out leisure or retail and are already back in the market, says Stephane Pichon, boss of Your Care Consult, which has just published its 2019 European property report. That is despite a big hike in interest rates on bank loans. We look at the current situation across Europe and also at Your Care’s figures on 2019 market size and growth rates by country.
As climate concern grows and the business world responds, energy-efficiency and sustainability have become strategic priorities for some private hospital operators, helping them win business, cut costs and arguably increase quality through "green hospitals", they claim. But internationally, incentives are a very mixed picture and those cutting emissions fastest are not where you might think.
After its first acquisition in the country in the second half of 2019, French healthcare real-estate investor Pierval Santé, subsidiary of Euryale Asset Management, tells us now is the time to invest in the Portuguese nursing home property market. We interview the director of Euryale on the acquisition and market.
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