- The assets are located in Pirmasens, Tarp, Vilseck and Dülmen A total of 332 care rooms and 164 flats for assisted living with a total of 26,600 square metres of usable space All properties are well utilised and well positioned in the markets
- Insgesamt 332 Pflegezimmer und 164 Apartments für betreutes Wohnen mit insgesamt 26.600 Quadratmetern Nutzfläche
- Alle Objekte sind gut ausgelastet und in den Märkten gut positioniert
The owner-managed Capital Bay Group, an internationally integrated asset manager, investment fund manager and cross-sector property developer, has sold four healthcare properties to the Healthcare Property Fund (HPF) Europe of BNP Paribas Real Estate Investment Management (BNP Paribas REIM). The buildings are located in Pirmasens (Rhineland-Palatinate), Tarp (Schleswig-Holstein), Vilseck (Bavaria) and Dülmen (North Rhine-Westphalia) and together comprise 332 care rooms and 164 flats for assisted living with around 26,600 square metres of usable space.
Andreas Sielemann, Managing Director of Capital Bay subsidiary CB Healthcare Acquisition GmbH, comments on the transaction: "All four properties are well located and in good structural condition. Against the backdrop of the current favourable market environment, this sale is in line with the company's strategic objectives.
"Demographic change and the ageing population in Europe are important drivers for the European healthcare sector. Against this backdrop, investing in nursing homes, rehabilitation centres and clinics offers our investors a reliable cash flow that is independent of economic cycles. With the current acquisitions, we have been able to add good locations throughout Germany to the portfolio of our Health Care Property Fund Europe," says Isabella Chacón Troidl, Chief Investment Officer of BNP Paribas REIM Germany.
The care property in Pirmasens has 72 care rooms and 119 flats for assisted living. The facility in Dülmen has 97 care rooms and 45 flats for assisted living. The operator of both homes is Pro Seniore. The property in Tarp offers 97 care rooms and is operated by Cura. The operator of the 66-room facility in Vilseck is Korian.
The Healthcare Property Fund of BNP Paribas REIM is a SICAV SIF domiciled in Luxembourg. The open-ended core property fund pursues a core and core+ strategy and offers institutional investors the opportunity for broad diversification in healthcare properties for the short, medium and long term in France, Germany and Italy. Launched in March 2020, the fund currently has an investment target of one billion euros, of which 650 million euros have already been invested in 38 properties.
The buyer's legal advisor was Hogan Lovells, CBRE acted as technical advisor. Cushman & Wakefield acted as buyside advisor. The parties have agreed not to disclose the purchase price.
