AXA IM adds Irish care homes to €2bn healthcare portfolio
AXA Investment Managers – Real Assets has entered the Irish care home market.
It has acquired 10 purpose-built care homes which include 600 beds and 52 additional units.
The portfolio will be operated by Mowlam Healthcare, one of Ireland’s largest nursing home operators.
AXA Investment Managers – Real Assets has entered the Irish care home market.
It has acquired 10 purpose-built care homes which include 600 beds and 52 additional units.
The portfolio will be operated by Mowlam Healthcare, one of Ireland’s largest nursing home operators.
The deal adds to AXA IM – Real Assets’ existing €2bn managed healthcare portfolio.
It follows acquisitions on behalf of clients in the UK, Germany, Italy, Finland, Spain and in France, where a portfolio of eight Paris care homes was purchased last year.
Andrew Ovey, head of healthcare at AXA IM – Real Assets, said: “This portfolio acquisition allows us to enter what is a fast growing and demographically supported sector. Given the quality of the portfolio and its high occupancy rates, this investment is expected to offer our clients the opportunity to benefit from capital value growth across the portfolio as well as long-term, sustainable income.
“At the same time, working alongside Ireland’s market leader Mowlam Healthcare should ensure we are well positioned to benefit from further opportunities which may arise in what is a hugely fragmented and undersupplied market.”
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