CapitalBay has bought the Dr. Drexler retirement home in Wiesbaden, Germany for an amount in the mid-double-digit million euro range from the Thamm Group. The Curata Group is expected to take over operations. Originally founded as a health and wellness clinic in 1969, the asset was then gradually transformed into a retirement and nursing home. It includes four buildings with close to 14,000m² of GLA on an 11,000m² park-like plot. The three residential buildings include 261 beds, two libraries, fitness and community spaces as well as doctors’ offices. The ground floor of the main building hosts a communications centre with a reception, a hotel-style restaurant, a hairdresser, a coffee bar and a self-supply shop. Additionally, the residential areas feature kitchens and a permanent art exhibition is hosted on the site.
Dieter Wopen, Managing Director of Curata, said: “With 2,857 beds and 28 institutions, the Curata Group now belongs to the 30 largest nursing home operators in Germany. In order to reach our goal of entering the top 10, we are putting an emphasis on digital administration and care processes. At the same time, we are safeguarding the availability of well-trained nursing staff for our homes with the foundation of a training academy.”
George Salden, CEO of CapitalBAY, commented: “Following Frankfurt, Bad Soden, Ortenberg and Nidda, Wiesbaden perfectly complements our regional cluster. Demand for nursing home spaces in the city is strong – with its high quality of life, Wiesbaden is very popular with the elderly. We still see high potential for the senior and nursing home market and plan to acquire further properties in the growing asset class.”
