Bartra Healthcare has sold four nursing homes to Belgian REIT, Aedifica, in a deal worth €161m.
The homes will continue to be run by Bartra under long term leases.
Residents and employees will be unaffected by the development.
"This is a very exciting and positive step for Bartra Healthcare and our excellent team," said Declan Carlyle, CEO of Bartra Healthcare
"The transaction will further strengthen our position in the Irish nursing home sector, and we are looking forward to developing our services and expanding our portfolio of homes."
The four properties include Beaumont Lodge Step Down Care Unit in Dublin, which is operated in partnership with the HSE.
Loughshinny Nursing Home in Skerries North Dublin, Northwood Nursing Home in Santry are also included.
Clondalkin Lodge Nursing Home in west Dublin, which is currently being developed and will open with 150 beds next year, is also part of the transaction.
Bartra Healthcare is also to operate Aedifica's care home that is currently under development in Crumlin.