INTERNOS has acquired a care property in Menden, Sauerland, for its special fund Care Invest I. The "Cramer’sche Fabrik" care home, providing 58 single and 11 double rooms, is let on a 25-year lease. Constructed in 2006, the building has a total area of 4,650 m². The vendor is ESM Bauträger & Entwicklungsgesellschaft, based in Schwalmtal. The purchase price was undisclosed.
The "Cramer’sche Fabrik", a historic industrial building in the centre of Menden, has been converted into a residence for 80 retired people by linking it with modern additions. The character of the listed monument gives the barrier-free rooms a special ambience. The facility is run by care home operator Krutmann Prosana & Co. KG.
Mathias Staudt, Fund Manager Health Care at INTERNOS, on the acquisition of the property: "The property is an ideal complement to the existing portfolio of the Care Invest I special AIF. It enjoys a good town-centre location, directly adjoining the pedestrianised zone in Menden, and the listed building features attractive industrial design."
Terranus advised INTERNOS on the acquisition. Legal advice was provided by Dentons Europe. Chandlerkbs carried out the technical due diligence.
