The French property developer Réalités and its subsidiary Heurus, which manages care homes for the elderly, have signed an exclusive five-year partnership with British investment fund InfraRed Capital Partners for the development and operation of a platform of care homes with specific services for the elderly in France. The investment amounts to 250 million euros.
This three-party partnership will look to develop four to six new homes per year for five years, with a portfolio of around twenty care homes in France by 2023. For each project, InfraRed will own the property complex while Réalités will be in charge of designing and constructing the buildings. Heurus will run the homes.
With this investment, InfraRed Capital Partners, a fund that specialises in real estate and infrastructure, adds a new strategy to its pan-European portfolio.
Gide's team advising InfraRed Capital Partners on this operation comprised partner Nicolas Planchot with associates Marie Pastier-Mollet and Clément Pech de Laclause on real estate and partnerships aspects, and partner Kamel Ben Salah on financing aspect.
Réalités and Heurus were advised by DELSOL Avocats.