BNP Paribas Real Estate Investment Management has raised almost €200m (£179m) to invest in healthcare real estate in Europe.
The company expects its Healthcare Property Fund Europe to build a portfolio of more than €1bn, with a focus on nursing homes, clinics and rehabilitation facilities in various eurozone countries.
The fund has so far received backing from pension funds and insurers in France, Germany and Italy, and BNP Paribas is now talking with new investors about joining ahead of closings in the third and fourth quarters.
“Strong demographics and an aging population are supporting this asset class, which is becoming increasingly significant in the allocation of institutional investors,” said Henri Romnicianu, head of institutional sales at BNP Paribas REIM.
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