Threestones Capital secures additional financing from Societe Generale for its TSC Fund - Eurocare Real Estate Fund investment vehicle. Societe Generale has provided a €16m loan to refinance four nursing homes in Spain. This loan follows a first tranche granted in July to fund the acquisition of six nursing homes in Germany and two nursing homes in Spain. Both financings, with a combined value of €69.5m, are part of Threestones Capital’s expansion into care homes across Europe.
“Care homes continue to be resilient despite the adverse macroeconomic environment of rising interest rates, increased energy costs and geopolitical tensions. The long-term inflation-indexed cashflows from the asset class have maintained the appetite of investors and lenders consistent so far ”, said Beka Pipia, Portfolio Manager at Threestones Capital.