CBRE ITALY ADVISES AXA INVESTMENT MANAGERS – REAL ASSETS ON ITALY’S FIRST HEALTHCARE PORTFOLIO SALE & LEASEBACK
CBRE Italy, part of CBRE Group, the leading global real estate consultancy firm, has advised AXA IM – Real Assets, on behalf of its clients, on the first healthcare sale & leaseback in Italy. Axa has acquired a portfolio of 8 medical buildings for €180 million from Policlinico di Monza, one of Italy’s pre-eminent private healthcare providers. Policlinico di Monza will lease all eight properties from Axa on a 24-year lease.
The facilities, located in Lombardy and Piedmont, comprise a total area of approximately 80,000 sq.m and include 829 NHS-accredited beds and 35 surgical theatres. During 2014, over 30,000 surgeries were performed and more than 1.5 million outpatient services were provided from these eight healthcare centres.
This deal, Italy’s first healthcare sale and leaseback, demonstrates that international investors are now keen to extend their foreign property investments into Italy. Stable cash flows and long term leases, combined with Italy’s aging population, make these deals particularly attractive for investors who are looking for a sector which is expected to grow significantly in Italy over the next few years.