Primonial Luxembourg has closed a €400 million refinancing deal with Austrian bank Raiffeisen Bank International AG (RBI) on the “Panacea” portfolio, which invests in healthcare real estate in Germany.
With its leading position in Europe in healthcare and education properties, boasting more than €8 billion in assets under management, the Primonial group has a deep understanding of these sectors and their dynamics.
The 67 assets in the Panacea portfolio consist mainly of nursing homes and healthcare facilities representing capacity of about 8,500 beds in various locations across Germany.
This new loan with a six-year term will be used to refinance, at attractive terms, the debt contracted when the portfolio was acquired in 2016, and to expand the roster of banking partners at the European level.
Source : Primonial