Healthcare Vital Signs

INVESTMENT VOLUME INVESTMENT VOLUME IN HEALTHCARE REAL ESTATE BY INVESTOR TYPE, € BILLION Cross-Border Institutional Private Listed/REIT User/Other Source: Real Capital Analytics 0 1 2 3 4 5 6 2017 (estimated) 2016 2015 2014 2013 2012 2011 According to RCA, close to EUR 4bn have been invested in the senior housing in Europe in 2017. This constitutes a decrease for the retirement homes segment after the volume reached almost EUR 6bn in 2016. (see opposite) Cross-border investors were again expected to be the biggest players in 2017 following the same trend than in 2016. According to the ageing of the population and the growing appetite for ‘alternative assets’, a huge potential in Europe is awaited in the coming years, around EUR 5bn per year. The main investors in Europe are located in France, Germany, the UK and the Benelux. They are most often REITS, investment funds and private equity firms. More recently, institutional investors such as insurance companies have gained important market shares in the sector. LARGEST INVESTORS Among the largest investors are Primonial REIM, BNP REIM, Cofinimmo, Aedifica, Swisslife REIM, Axa IM, Deutsche Wohnen, Threestones Capital. In Southern and Eastern Europe the investment market is not shaped around key investors, and Operators are often the owner of the real estate assets. 19 | CUSHMAN & WAKEFIELD