TSC Real Estate, an investment and asset management specialist focussing on healthcare, residential and related commercial real estate, has purchased a portfolio of five in-patient care homes with over 500 beds for a Luxembourg-based fund.
The seller is a family office and the purchase price is in the upper double digit million Euro range, said the purchaser.
According to TSC, the assets are in the states of Baden-Württemberg, Hessen and Rheinland-Palatinate and comprise a total lettable area of around 25,000 m2. The individual facilities were constructed or fully modernised between 1992 and 2017 and each comprise between 110 and 145 care units.
Berthold Becker, MD, said: ‘This acquisition was completed by us after we had identified wecare as a suitable operator, with which we have now concluded long-term lease contracts for the homes.’
In the course of the acquisition review, the firm worked out a strategic ESG concept in line with the 1.5 degree target laid down by the Carbon Risk Real Estate Monitor (CRREM) and identified opportunities for CO2 reduction.
The buyer was advised on the purchase by KL Gates, CBRE and Savills. The transaction was brokered by Acxit.