Luxembourg-based fund manager AviaRent Capital Management, the German partner of Primonial Holding, has acquired an 87-unit nursing facility in Schleswig-Holstein for its carevision III fund.
Financial details were not disclosed.
Comprising 4,400 m2 of living space, Seniorenhaus am Segeberger Forst is set on a 18,000 m2 site at Bockhorner Landstraße 54–56 and provides more than 86 single and multipurpose rooms.
The facility consists of three interconnected sections, two of which are almost ready for handover and the third is currently under construction. The property is expected to be completed in the fourth quarter of 2019.
'Schleswig-Holstein is no different from the rest of Germany, the age profile is changing and demand for attractive care facilities is growing steadily. The new property in Bark meets the high standards of our fund and helps to address the growing demand in the region,' said Yenna Haack, CEO of AviaRent Invest.
The open-ended special AIF CareVision III invests in long-term care facilities with a focus in Germany. The fund’s strategy also includes investments in the development of future alternative forms of living in the assisted living plus segment, such as senior citizens’ shared apartments and assisted living properties.