International law firm Clifford Chance has advised ORPEA, a world leader in long-term care, on the sale and leaseback of a portfolio comprising eight nursing home properties in Germany, from France-based listed property management and development enterprise Icade, which also invests in healthcare facilities.
The transaction is subject to approval by the antitrust authorities.
ORPEA has developed most of the eight nursing home properties and will continue to operate them. Four of the eight properties are under construction and scheduled for completion in the second half of 2020. New leases have been agreed between Icade and ORPEA for all properties. ORPEA and Icade intend to enter into a long-term cooperation.
This is the first time that Clifford Chance has been able to support ORPEA in a major transaction in the German market.
The international Clifford Chance team advising ORPEA included partner Kristina Jaeger with associates Isabel Freudenberg and Simon Schulz (all Real Estate, Frankfurt); partner Dominik Engl and associate Laura Lamster (both Tax, Frankfurt); partner Joachim Schütze, counsel Dimitri Slobodenjuk and senior associate Caroline Scholke (all Competition, Düsseldorf). From the Luxembourg Clifford Chance team, partner Christian Kremer, senior associate Sascha Nolte and associate Miruna Poenaru (all Corporate) advised.
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