Cofinimmo, a real estate firm listed in Belgium and Orpea, a French nursing home manager, are setting up a new healthcare property joint venture to be run by the latter, PropertyEU reports. Cofinimmo will hold a majority stake of 51 percent in the new unit, which will aim at a size of up to €500 million over five years.

Orpea's Opci fund vehicle will own the balance stake in the unit. Confinimmo has inked a pact with Orpea to buy French healthcare assets, including nursing homes and clinics for post-acute and psychiatric care, for the new unit. These assets will be offered on a triple net commercial lease initially for a 12-year tenure.

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