AXA Investment Managers – Real Assets has bought a portfolio of eight hospitals in northern Italy from private operator Policlinico Di Monza, for around €180m (£126m).
The deal comprises a sale and leaseback with Policlincio Di Monza which has committed to a long-term lease and will continue to run the facilities.
The portfolio of eight acute care facilities totals more than 861,000 sq ft and 829 hospital beds, located across Piedmont and Lombardy.
There will also be the opportunity for purchase of further hospitals.
The deal, which is AXA IM – Real Assets’ first healthcare acquisition in Italy, has been made on behalf of a 50/50 joint venture between AXA Insurance Companies and a company owned by Medical Properties Trust.
