La Française Real Estate Managers (REM), representing two collective real estate investment vehicles, has acquired from an institutional investor a property serving as a Post-Acute Care and Rehabilitation clinic, Le Floride, situated at 1 avenue de Thalassa in Barcarès (66), approximately 30 km north of Perpignan.
The property, with a surface area of 7,857 m², consists of a main building built over four floors (R+3) (constructed in 1979), a balneotherapy building (1993) and an extension built over four floors (R+3) (2019). Since 2014, CAPEX investments have been made, notably for the partial renovation of the main building and the refurbishment of the balneotherapy facility. A new renovation protocol, which includes an action plan to adapt to climate risks, will allow further refurbishments to continue. The environmental performance of the property complies with La Française REM’s policy. The Le Floride clinic has a capacity of 120 full-hospitalization beds and 60 day-hospitalization places.
The facility specializes in functional rehabilitation and re-education, with centers of excellence in orthopedic traumatology rehabilitation, neurology, prosthetics and complex spine treatments. Its neurological activity, complementary to that offered by the Perpignan Hospital Center, allows Le Floride clinic to receive many patients through its referral.
The medical facility is operated by ELSAN under a 12-year lease. ELSAN, a private hospital group, is a major regional player in healthcare services in France, with facilities within 40km of two out of three citizens. As a private healthcare provider, its mission is to provide everyone with quality, innovative and human care.
Jérôme VALADE, Director of the Healthcare Real Estate Division at La Française REM, concluded: “This new investment alongside ELSAN strengthens our partnership with a trusted operator. Its geographic location is strategic. With a high proportion of people over 60 years old, showing growth of more than 30% between 2015 and 2021, the region’s demographics should support the asset’s value.”
For this acquisition, La Française REM was advised by ALLEZ & ASSOCIÉS (Me Alexandre Ollagnon) for the notarial audit, FAIRWAY (Me Alexandre Poupard & Me David Franco) for the legal audit and financing arrangement, ARTELIA (Marlène Mandrin-Bert) for the technical audit and WUEST PARTNERS (Marc Yehya) for the ESG audit.
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