Icade Santé, owned by the Healthcare Property Investment Division, is the new owner of the buildings where the Lusíadas da Boavista and Albufeira hospitals are located. The operation was carried out through the purchase of 100% of the SaúdeInveste fund, held by Fidelidade, the parties announced last Thursday, in a statement.
The assets of the SaúdeInveste fund include the buildings where the Lusíadas da Boavista hospitals (which include the Clínica da Boavista), Albufeira and Lisbon, operated by the Lusíadas Group, and the Private Hospital S. Gonçalo, in Lagos, operated by the Group HPA Saúde, are located. This fund had been managed since July 2020 by Caixa Gestão de Ativos (SGOIC), having previously been managed by Fidelidade.
The deal was closed for 213 million euros, representing the first investment of Icade Santé in the Portuguese healthcare real estate market. In a statement, the buyers justify this acquisition with "long-term favorable demographic trends and ongoing consolidation processes in the private hospital sector in Portugal".
“This is a very important transaction for the healthcare real estate sector in Portugal, with a record yield (below 5%)”, explained Igor Borrego, director of Capital Advisors at CBRE, who advised Fidelidade in this operation.
Icade Santé focuses on healthcare real estate, helping healthcare and senior providers execute sale-and-leaseback and property development strategies. Icade’s Healthcare currently owns 183 properties in France, Germany, Italy, Spain and now Portugal, valued at €6.9 billion.
