In 2016, German-based investment and asset manager Corpus Sireo acquired 12 properties across Germany totalling €130m for Health Care Funds II, III and IV.
- Acquisition of 12 properties for institutional Health Care Funds
- €400m available for further transactions
Five properties altogether were acquired for Health Care Fund II. This included a care home development project with inpatient care and 88 beds in Papenburg, Lower Saxony. Construction of the property by Schomaker Baugruppe from Dörpen is scheduled for completion by Q4, 2017 at the latest. The operator is Curanum AG. All in all, there are 17 properties in Health Care Fund II. The focus of this fund is to purchase care homes and properties for assisted living.
Other acquisitions: a medical care centre in Ludwigshafen and three care homes in Berlin
In addition, four properties were acquired last year for Health Care Fund III, which was launched in 2015. One of these was the “Lusanum” medical care centre in Ludwigshafen. The leased area extends over more than 7,300 square metres and is rented by a total of 40 doctors with various specialisms, therapists, and industry-related shops such as chemists and specialist shops. The letting rate is currently 98.7%.
A portfolio comprising three care homes in Lichterfelde and Charlottenburg, Berlin, was acquired for the Health Care Fund IV, which started in November 2016 and focuses on assisted living. All properties are operated by Alloheim and the seller of each property is a private individual.
For all transactions, it was agreed not to disclose the purchase price.
Acquisitions of €400 million currently in the pipeline
Sebastian Schlansky, Corpus Sireo’s Head of Acquisitions in the health care segment: “We currently have €400m available in Health Care Funds for additional transactions, and this amount is set to increase. The focus continues to be on medical care centres, assisted living and care homes across Germany. Demand for investors is high: funds in this segment offer above-average stability and wide risk distribution.”