De Pardieu Brocas Maffei has advised Croix-Rouge française (French Red Cross) on the creation, the setting-up and the financing of a property company (société civile immobilière – “SCI”) which owns six aftercare and rehabilitation clinics and on the acquisition by Cofinimmo of a stake of 39% in the capital of the SCI (this represents an investment of 46 million EUR). In addition, two representatives of Cofinimmo will sit on the board of directors of the company.
The value of the portfolio amounts to more than €190M.
All the sites are leased to the French Red Cross.
The French Red Cross belongs to the world’s largest humanitarian movement, which brings together 97 million men and women gathered around the same ideal of fraternity and solidarity in 191 countries. An association under the law of 1901, recognised as a public utility in 1945, the French Red Cross bases its action in the field of emergency, relief operations and social action on the commitment of its 65,500 volunteers working in over 1,164 delegations and local units covering the whole of metropolitan France and overseas territories. The association is also a major player in the social and solidarity-based economy of non-profit services. Present in the health, medical-social, social and training sectors, it manages nearly 600 facilities with 16,700 employees.