Internos has announced the launch of Care Invest II, its second open-end real estate special AIF focussing on healthcare property.
Care Invest II will invest in a balanced, regionally diversified portfolio of healthcare properties, with stable long-term value. The fund will focus on German nursing homes, outpatient care, sheltered housing facilities and rehabilitation clinics treating patients in psychiatry, gerontology and oncology.
The fund will invest in care homes and assisted housing properties in lot sizes between €7m to €20m and rehabilitation clinics and medical centres between €10m and €30m. Up to 60% to 75% will be invested in care properties and assisted housing. The planned acquisition period is three years.
The fund will have a total investment volume of approximately €300m, of which up to €150m will be equity. Care Invest II aims to achieve a distribution yield of up to 6% over a 10-year average.
Paul H. Muno MRICS, Partner and Head of Capital Relations & Germany at Internos: "Positive yield expectations, which are higher than those on traditional office or retail investments, and the current strong financing conditions are what make this investment strategy particularly attractive. INTERNOS already has a history of healthcare property expertise and is firmly established in the healthcare property market. We currently have a property pipeline of around €60m."