Berlin, 8 November 2019 - Berlin-based Capital Bay GmbH acquired three retirement homes in Berlin from the Andreas Franke Group in October. Both parties agreed not to disclose the purchase price. The portfolio comprises a total of around 430 beds and has a total lettable area of 13,100 m². The CURATA Group will take over operations as a strategic partner.
The properties acquired include Park Alterssitz City in Wilmersdorf, Sanatorium West in Lankwitz and Residenz Dahlem. The facilities were built in 1969 and 1970 and were extensively modernised around ten years ago.
"All three retirement homes are excellently positioned on the market and are in good locations in Berlin," says George Salden, CEO of CapitalBAY. "With CURATA as a strategic partner, we will continue to run the facilities sustainably. Age-appropriate forms of housing and care properties are part of our investment strategy, and the acquisition of further properties is planned."
Thorsten Mohr, Managing Director and CFO of CURATA, adds: "With this step, the CURATA Group has succeeded in entering the attractive Berlin market. At the same time, CURATA was able to significantly expand the scope of its care services by taking over an outpatient service in Berlin. As a result, CURATA is growing across all segments to over 3,500 care units throughout Germany and is closing the gap on the top 10 German care home operators."