The seven assets, located in northern Italy, total 582 beds and will continue to be operated by the Sereni
Orizzonti Group under 29-year leases with no break options. The Sereni Orizzonti Group—one of the leading
nursing home operators in Italy—runs over 90 facilities with around 5,900 beds in three European countries,
namely Italy, Germany and Spain. Founded in 1996, the Sereni Orizzonti Group is a European player and
has in-depth knowledge of the markets in which it operates.
The overall investment, made through a sale and leaseback transaction, totals €39m including duties with
an initial yield in line with the market. It will generate immediate cash inflows for Icade.
This transaction furthers Icade’s international diversification strategy with respect to its healthcare property investments. It is subsequent to the deal signed with Numeria SGR S.p.A. and Gheron in October 2018 (1,020 beds for €112m incl. duties) and an acquisition made in Jesolo in February 2019 (120 beds for €12m incl. duties).
