At the end of December 2015, Primmoser S.A. sold the nursing home ‘Résidence Palmyra’ to the Belgian insurance company Baloise Insurance. Cushman & Wakefield represented the interests of the manager and owner (Primmoser S.A.) in this transaction. This amounted to a real estate investment transaction of approximately 20 million euros. Only two nursing homes were sold by brokers in 2015 – both were advised by Cushman & Wakefield.
The origins of this story date back to 2012 when ‘La Familiale’ and ‘Les Joncquières’ were managing several rest homes in Drogenbos. Intending to group all the beds in a single residence, Primmoser S.A. purchased an area along the Zennebeemd Street behind the Colmar restaurant in Drogenbos..
The Résidence Palmyra project was completed in 2015, comprising 120 beds and 40 serviced flats with a total surface area of 12,333 m², basements included. Cushman & Wakefield advised ‘La Familiale’, ‘Les Jonquières’ and Primmoser S.A. in their search for a new owner (Vulpia) who then partnered with Baloise Insurance for the purchase of the Résidence Palmyra.
Both nursing home transactions conducted with brokers in 2015 were handled by Cushman & Wakefield. The earlier transaction was the sale of the Triamant Aunove in Zottegem in May 2015.