La Française Real Estate Managers (REM) acquires a real estate asset designed for use as a multidisciplinary care facility in the Auvergne-Rhône-Alpes region (France)
La Française Real Estate Managers (REM), acting on behalf of a collective real estate investment vehicle, has concluded the acquisition of a real estate asset designed for use as a multidisciplinary care facility at 9 bis rue de la Piot, in Saint-Priest-en-Jarez (42, France), located on the northern outskirts of Saint-Etienne.
The clinic was built in 1991 and partially renovated in 2019. It is located on a wooded plot of more than 2 hectares and is part of the larger Sainte-Etienne healthcare cluster, near the University Hospital Center. The clinic is easily accessible from the A72 motorway and by public transportation with the T1 and T3 tram lines.
The facility, with a total surface area of 10 460 m2 spread over 6 levels, has 12 operating room units, 7 emergency rooms and 115 beds, including 79 long-term care beds. The clinic offers an array of inpatient and outpatient surgical specialties: digestive, ophthalmological, orthopedic, ORL, maxillofacial, plastic, pediatric and urological.
The asset is operated by ELSAN under a 12-year lease. ELSAN, with its network of facilities, is a reference in the healthcare landscape in France. The group’s business model is based on three fundamental values: paying attention to others, creating social links and cultivating a team spirit. ELSAN acts and innovates in the best interest of patients deep within the regions of France.
The asset-owner and tenant will engage in renovations in order to improve the energy efficiency and environmental performance of the asset. The clinic is considered “Best in Class” with regard to Social and Governance criteria, given its social impact, the array of services offered, the assessed comfort and well-being of patients.
Jérôme VALADE, Director of Healthcare Real Estate at La Française Real Estate Managers: "This is an important acquisition for La Française REM because it not only strengthens our ties with ELSAN but is perfectly aligned with our underlying objective to combat medical desertification. As pointed out in a 2021 Senate report, poor health infrastructure is rampant in many territories. By targeting undersupplied areas, such as the Loire department, where 41% of municipalities are considered “medical deserts”, this acquisition contributes to reducing territorial inequalities in terms of access to healthcare. Our approach which focusses on obtaining both financial and extra-financial objectives, strengthens our position as a key player in the healthcare real estate landscape, while offering our investors exposure to a resilient and meaningful sector.”
For this acquisition, La Française REM was advised by MAYER BROWN (legal due diligence), ARTELIA (technical due diligence), WUEST PARTNERS (ESG due diligence) and by Me Alexandre Ollagnon, ALLEZ&ASSOCIES (notarial due diligence).
The seller was advised by Me Annamaria Brogna of LEXFAIR (notarial services), ADAMA (transaction) and ADVENIO (energy audit).
About La Française
La Française offers conviction-based management that combines performance targets and sustainability objectives across all asset classes. Organized by specialty, our portfolio managers focus on what passions them most within their own area of expertise.
Our shareholder, Crédit Mutuel Alliance Fédérale, a mutualist group and the first bank to adopt the «benefit corporation» status, is at the very root of our commitment to responsible investing. Our teams have developed cutting edge expertise across many facets of ESG, an expertise that is integrated across all of our business activities and analyses.
Our approach to customer relationships, considered partnerships, and the creativity of our teams who place the client first enable us to develop innovative solutions and services tailored to your investments needs and time horizons.
La Française is the asset management business line of Crédit Mutuel Alliance Fédérale. With 152 billion euros in assets under management (30/06/2024), we are a major player in the asset management landscape, in France and Europe. With over 1 000 employees, we are active in 10 countries, working alongside our client base and ensuring proximity with those markets in which we invest. Our niche areas of expertise cover listed and unlisted assets, including real estate.
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Contact La Française:
La Française
Pascale Cheynet: +33 1 43 12 64 25 | pcheynet@la-francaise.com
Debbie Marty: +33 1 44 56 42 24 | debmarty@la-francaise.com
Disclaimer
Issued by La Française FINANCE Services, whose registered office is 128, boulevard Raspail, 75006 Paris, France and approved by the ACPR under number 18673 as an investment company.
Portfolio Management Company La Française Real Estate Managers received AMF approval No. GP-07000038 dated 26 June 2007 and AIFM authorization dated 24/06/2014 under Directive 2011/61/EU (www.amf-france.org).
Expert
Jérôme VALADE
Head of Healthcare Assets, La Français Real Estate Managers
Jérôme VALADE, Head of Healthcare Assets of La Française Real Estate Managers, has 18 years of experience in real estate. In 2006, he began his career in real estate valuation, namely h
About La Française Group
La Française, the asset management division of the first benefit corporation bank, Crédit Mutuel Alliance Fédérale, offers conviction-based investment strategies across all asset classes, combining performance targets and sustainability objectives. As a multi-specialist asset manager, its teams focus on their core expertise while integrating advanced ESG principles into their analyses and investment processes. La Française operates across listed and unlisted markets, including real estate. With over €160 billion in assets under management*, 1,000 professionals and a presence in 10 countries, La Française designs innovative investment solutions tailored to clients’ objectives and investment horizons.
* 30/06/2025