La Française acquires first medico-social asset in Belgium

07 July 2022

Paris, 7 July 2022: La Française Real Estate Managers (REM), acting on behalf of a collective real estate investment vehicles, recently entered into a sales and purchase agreement for the development of a real estate project located on rue de la Caracole in Namur, Belgium. The transaction will be concluded no later than the end of 2024.

The real estate complex is located south of Namur (the capital of the Wallonia region), a city of approximately 110,000 inhabitants. Namur is close to a river port and a major motorway junction, which makes it a crucial part of the province's economy. Namur ranked second in Agoria's 2015 "Smart Cities" benchmark performance rating system.

The development project involves a housing complex specifically intended for caring for people with disabilities. It will be made up of five buildings, accommodating a total of 80 residents. Four separate buildings will each provide bedrooms and shared leisure and common facilities for 20 residents. Another building will house the administration offices, an area for group activities, a shared dining room, kitchens, laundry facilities, etc. Outside, the residents will be able to take advantage of relaxation and activity facilities such as: a games area, a vegetable garden, an apiary, an urban farm, etc. 

The building will meet the latest standards both from a "medical" standpoint as well as in terms of energy consumption. The building complex will have photovoltaic panels on the roof and electricity will be provided from renewable energy resources. It will also have charging stations for electric vehicles and include plenty of green spaces. 

The building has been pre-let, under an eighteen-year fixed-lease agreement to Namur Santé, a member of the MG Health Care group, working in the care sector for people with disabilities in Belgium.

Jérôme Valade, Head of the healthcare real estate division concluded, "This development project will help to redress the balance for the shocking lack of facilities for people with disabilities. The guiding idea, namely, to offer a real home to residents, fits perfectly with our investment philosophy, which aims to build a portfolio of assets across Europe that satisfy the need for medico-social facilities in central urban areas".For the legal aspects surrounding the acquisition, La Française REM used the consultancy services of Cabinet Schoups, while Theop provided consultancy services regarding the technical and SRI aspects of the acquisition.

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