Carestone Group, Germany’s market-leading development platform specialized in senior housing and care homes, has agreed to sell a portfolio of nine facilities for €168m, as it actively diversifies revenue streams under its growth strategy. The portfolio comprises six standing assets and three more facilities under development. Combined, they will provide a total of 1,000 senior living units with assisted living, daycare, and inpatient care provided on-site as well as space for care managers and facility administration. The nine properties are located in the regions of Saxony, Saxony-Anhalt, Hesse, North Rhine-Westphalia, and Baden-Wuerttemberg, providing exposure at scale to Germany’s senior living market, where properties generate attractive, long-term incomes.
The transaction emphasizes how Carestone is stepping up sales to institutional investors as part of a revenue diversification strategy that adds to its sales to individual investors. As Germany’s market leader, Carestone is currently working on more than 90 projects to deliver senior housing and care home facilities across the country.
Carestone CEO Dr. Karl Reinitzhuber said: ”Germany urgently needs more accommodation and care facilities for its elderly citizens, so bringing institutional investment to the sector through portfolio sales like this will certainly help reduce the shortage. Institutional transactions complement the sales we continue to make to individual investors on other projects, giving us a better sales mix and positioning us for continued growth in face of strong demand for senior living and care facilities.”
