Primonial REIM's SCPI Primovie makes first acquisition

Primonial REIM has finalised the acquisition of seven day-care centres in the Netherlands on behalf of its real-estate fund the SCPI Primovie, which specialises in health and educational facilities in Europe. 

This is the first transaction carried out by the fund in the Netherlands.

The property portfolio consists of seven day-care centres representing a total of 4,800 sq m at a cost of EUR12.8 million. These childcare facilities are located in the main Dutch cities where the demand for childcare places is very high: The Hague, Utrecht, Nieuwegein, Zeewolde and Houten.

All of these assets are currently leased and occupied by Partou, the largest childcare operator in the Netherlands, under a long-term lease.

Primonial REIM Board Chairman Grégory Frapet, says: "We are continuing our development with the acquisition of this portfolio in educational facilities, a first for the SCPI Primovie in the Netherlands. This transaction is fully in line with the fund's investment strategy: to position itself in socially useful assets that generate potential returns over the long term. Through long-term leases with leading operators, we offer our investor clients visibility on future revenues.”
Primovie is an open-ended real estate investment company created in July 2012, a leader in healthcare and educational facilities in Europe with a capitalisation of over EUR3 billion. It allows to invest in the eurozone in assets such as day-care centres, schools and training centres, retirement homes, senior residences, clinics and nursing homes.

For this transaction, Primonial REIM was advised by Codabel (Arnaud Dupont) for the commercial part, Kennedy Van der Laan (Nico Jacobs) for the legal part and CBRE for the technical part.