With the acquisition of the Heilig Geist Park retirement home in a top waterfront location in Potsdam, Corpus Sireo Real Estate is adding another attractive investment property to Corpus Sireo Health Care IV SICAV-FIS. The seller of the property is a family office from southern Germany. The parties have agreed not to disclose the purchase price. Since 2016, the Cologne-based company has primarily been investing in assisted living in Germany for this fund, which is already its fourth special fund for healthcare properties. The purchase price was undisclosed.
The retirement home in Potsdam, situated on a park-like plot of land by the Havel river, consists of two residential buildings and is also historically and architecturally remarkable. Both buildings were constructed in 1997 as the result of an international architecture competition. Building 1 is a new build modelled on the former Heilig Geist church, featuring a tower and a nave. At a height of 84 metres, the tower is Potsdam’s tallest building. Together, they offer 60 places for inpatient care and 14 apartments for assisted living. Building 2 is designed in a U shape and contains another 45 assisted living apartments. The care and residential property is operated by Heilig-Geist-Park Betriebs. In addition, the investment also includes a renovated eighteenth-century building let as office space on the adjacent plot.
Sebastian Schlansky, the agent for the investment, says: “We are proud to secure this property in a prestigious location in Potsdam for the Health Care Fund IV. The combination of housing and nursing care at this location right by the Havel meets the needs of largely independent residents as well as those who are heavily dependent on care. For many potential residents in the 60+ generation, it is extremely important to know that they will not have to move even if their need for care increases. This ensures demand for and thus permanent utilisation of both areas in the long term. Combined with the positive demographic data, this acquisition therefore represents a sustainably secure investment with an attractive return.”
