KINGSTONE Real Estate has acquired a nursing home with 70 single bedrooms in Baden-Wurttemberg, Germany. The vendor is GFS Bautrager- und Immobilienvermittlungs-GmbH. The purchase price was not disclosed.
The building with a high-quality structure comprises a gross floor area of around 4,000m² and was built in 2019. It meets all the requirements of a modern nursing home. It is situated in a residential zone in the heart of Dettenheim's Liedolsheim district, in the direct neighborhood of an elementary school. The complex is leased to INCURA GmbH, which operates the residence here under the name "Senioren-Residenz Dettenheim". Besides the geriatric-psychiatric living area with a sensory garden, the facility also accommodates a "Young Care" living area for patients under 60 with somatic illnesses. The nursing services provided encompass full inpatient care, as well as interspersed short-term care and interspersed prevention care. The nursing facility enjoys a constantly high bed occupancy rate due to the high quality of the service offering and the building.
Paul Muno, Managing Partner of KINGSTONE Living & Care GmbH, said: "The property in Dettenheim is a perfect fit for the strategy behind KINGSTONE Living & Care I. The building quality is outstanding and there is a long-term contract in place with a superbly positioned regional operator. We are pursuing a buy-and-hold strategy and seeking strong combinations of established operators and sustainable properties, right across Germany."