Advertisement
Emeis, in partnership with Farallon Capital and TwentyTwo Real Estate, has created a real estate company to manage its healthcare properties. This initiative goes beyond the group's original divestment plan of EUR 1.5 billion, bringing the total to about EUR 1.9 billion. The partners will invest EUR 761 million later this year, helping Emeis cut its net debt by nearly EUR 700 million. The portfolio was valued at EUR 1.22 billion at the close of 2024. Emeis will retain control of the new company while continuing to operate its healthcare assets.
French elderly care group Emeis has set up a real estate company in partnership with Farallon Capital and TwentyTwo Real Estate. The company will manage healthcare real estate assets operated by Emeis. The arrangement allows Emeis to continue overseeing its properties while at the same time lowering its debt levels. Advertisement
The company stated that this transaction takes its divestment programme beyond the initial target by around EUR 300 million. Emeis had earlier committed to divesting EUR 1.5 billion in assets by the end of 2025, covering both operational and real estate assets. With the creation of this new company, the total divestments already completed or secured now stand at nearly EUR 1.9 billion.
Emeis' partners are scheduled to invest EUR 761 million towards the end of this year. The planned investment is expected to lower the group's net debt by almost EUR 700 million. The real estate portfolio of the new property company was valued at approximately EUR 1.22 billion at the end of 2024.
The structure of the agreement ensures that Emeis will retain control over the new company and continue to manage the assets. The partnership is set for an initial term of five years, with an option to extend for two more years. Emeis has also kept the right to end the partnership earlier if needed.
The group, formerly known as Orpea, rebranded as Emeis in 2024. Orpea had faced serious challenges after allegations of mistreatment in French care homes were made public in 2022 through a book by journalist Victor Castanet. The company rejected claims of widespread abuse, but the controversy led to financial difficulties and increased scrutiny. Since then, Emeis has been focused on stabilising its position, including the sale of assets in several European markets such as Spain, the Netherlands, and Poland.
The new real estate company forms part of this broader strategy to reduce debt, improve financial health, and strengthen operations while maintaining direct oversight of its key properties.
Source Reuters
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
