Linklaters advises BAE Systems Pension Funds on a long-term real estate partnership with Korian
Linklaters advised BAE Systems Pension Fund on a long-term real estate partnership with Korianleading European group of care services for the elderly and frail, in December 2021. The agreement concerns several funds of BAE Systems Pension Funds, which will be managed by Elevation, an asset manager specialized in healthcare real estate.
BAE Systems Pension Funds has invested approximately €100m in a portfolio of 23 long-term care and healthcare facilities managed by Korian and located in France, Germany and Spain. This partnership includes a greenfield project and four assets to be redeveloped. The gross value of the portfolio, including greenfield projects and redevelopment sites, is approximately €320m with a net net worth of approximately €200m.
The Linklaters Paris team was led by Real Estate Partner Francoise Maigrotwith associates Saadoun Alioua and Camille Lapeyre Sabatie de ChavardesAssociate in the management of consumer companies Benjamin PrevostPublic Law Partner Pierre Guillot and managing partner Peter Sikoravand Antitrust and Foreign Investment Associate Thomas Elkin. Linklaters’ offices in Germany, Madrid and London were also involved.
Korian was advised by Herbert Smith Freehills.