The Batipart group, the holding of the French Ruggieri family, has put up for sale a portfolio of 24 residences for the elderly distributed between Spain and Italy. The operation is valued at 350 million euros.
The portfolio, which offers a 5% return, is awakening the interest of institutional investors and insurance groups, according to El Economista. The transaction will mean the total divestment of the sanitary group in Spain, since the sale includes the 18 residences that Batipart has in the Spanish market. In the case of Italy, there would be six centers that are on the market.
Batipart has been present in Spain since 2015, where it has two other investment vehicles: Socimi Elaia Investment Spain and Lagune's long-term vehicle. The company manage these assets through Lagune, a pan-European long-term investment vehicle that, in addition to the healthcare segment, is also committed to tourism and leisure assets.
In Spain, the 18 assets are grouped into the subsidiary Lagune Spain, which started its activity in 2017 with the purchase of 16 residential centers from the DomusVi group (formerly SARquavitae) in a sale & leaseback operation. Two years later the firm closed the acquisition of two other nursing homes from the same company, which once again took over the management of the centers for a period of 25 years.
Grupo Batipart is present in seven European countries, where it has assets under management amounting to 4,000 million euros. In addition, it is also present in fifteen African states, and in the United States and Canada, where it operates in collaboration with Cogir Immobilier.
