Threestones Capital acquires an additional nursing home facility “Villa Betania” located in Arenys de Mar, a municipality in the region of Catalonia, Spain, for its TSC Fund - Eurocare IV investment vehicle for a total of €4.2m.
The facility includes two buildings with 2,422m² and 1,667m² of leasable area and 78 private beds. The nursing home is known for its central location in Arenys de Mar and offers beautiful sea views and restful retirement to its residents. The property will be leased and operated by Group Lantus, a fast-growing operator from Spain.
“We are glad to announce our 13th acquisition in Spain, which brings the total number of care beds managed by Threestones Capital in the country to 1,413, for a total market value of circa €97m. Over the next decade, Spain is forecasted to see one of the largest growth (25%) in people aged over 65 years, according to Oxford Economics. We will continue to explore other properties in the region”, said Beka Pipia, Portfolio Manager at Threestones Capital.