Hamburg-based investment and asset manager Captiva has announced the acquisition of two assisted living properties in the Bavaria region of Germany from the KRE Group for a total of €75 mln.
Located in the cities of Bamberg and Lohr am Main, the properties are currently under construction and represent around 20,000 m2 of rental space. They will be part of the seed portfolio for Captiva’s Health Real Estate Germany 2 fund, which is targeting a volume of around €500 mln.
’Captiva has focused on the healthcare asset class since Covid-19, but before then, this has been part of our strategy for more than 10 years. We see ourselves and our customers well positioned to carry out transactions successfully even in today's challenging environment,’ commented Stephan Fritsch, managing director at Captiva.
The transaction was brokered by Cushman & Wakefield.