Sale of Trinity Care Portfolio Announced - Construction Network Ireland - Construction Network Ireland

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Published in Commercial Property on 19/01/2021

Sale of Trinity Care Portfolio Announced

CNI Editor reports

Property consultants CBRE Ireland in conjunction with their Spanish colleagues have recently completed a very significant healthcare investment transaction in the Irish market with the sale of one of the leading senior care home operators in Ireland – the Trinity Care group – to Spanish investor DomusVi. The Spanish investor was advised by CBRE’s Real Estate Banking team in Spain headed by Pablo Callejo, a National Director, while Trinity Care was advised by Cormac Megannety, Director and Head of the Healthcare division in CBRE in Dublin.

Commenting on the transaction, Megannety said: “This transaction is yet another indication of the continuing consolidation of the nursing and care home sector across Europe and demonstrates just how much healthcare assets are of interest to investors”. 

Just last week, CBRE Ireland issued their Outlook 2021 report, which referred to the strength of demand from investors for healthcare assets in the Irish market, noting strong international appetite for nursing homes and Primary Care centre investment assets throughout the country. This sector has seen significant consolidation in recent years, a trend that CBRE believe will continue in 2021.

The transaction will allow DomusVi to continue to roll out its European expansion strategy, with this being its first transaction in Ireland. Whilst carrying out this transaction, the CBRE REIB team also advised DomusVi on the sale of the properties to the Belgian company Cofinimmo, one of the largest specialist Healthcare REITs in Europe.