Ughi e Nunziante Studio Legale assisted Ream SGR in its first acquisition which led to the setting up of the GERAS Fund. The transaction, worth €18 million, entailed the purchase of a real estate complex, with a nursing home, located in the municipality of Rivoli, west of the city of Turin.
The Ughi e Nunziante team which supported Ream SGR, in its capacity as management company of the GERAS fund, was led by partners Nicola Resta and Andrea Bazzigaluppi, and composed of the attorneys Andrea Grecuzzo and Giovanna Branca, the latter for administrative law issues.
The property, purchased from the company Santa Croce S.r.l. of Turin, assisted by the Firm Vietti e Associati, hosts two nursing homes, Santa Maria della Stella with 80 beds, and San Giovanni Bosco with 120 beds, as well as an integrated day center named La Magnolia with a total of 20 beds and a medical clinic.
The two nursing homes, active since mid-2015, shall keep on being managed by Santa Croce S.r.l.
After this first transaction, the GERAS Fund wishes to invest in social healthcare facilities nationally; in particular, it shall pursue its investment plan with the acquisition, over the next few months, of other four facilities in Liguria, Lombardia and Piemonte, for an overall value of approximately €80 million. Furthermore, the fund is finalizing its preliminary assessments of other facilities, worth approximately €60 million, with the aim of extending its investment perimeter further.