German senior housing and care houses developer Carestone is promoting a portfolio of 9 amenities to an unnamed worldwide investor for €168m.
Carestone mentioned the disposal of the properties, positioned in Saxony, Saxony-Anhalt, Hesse, North Rhine-Westphalia, and Baden-Wuerttemberg, is a part of the agency’s progress technique to actively diversify its income streams.
The portfolio being bought contains six standing property and three amenities below growth. It whole, the property will present a complete of 1,000 senior residing items with assisted residing, daycare, and inpatient care offered on-site.
Carestone’s CEO Karl Reinitzhuber mentioned: ”Germany urgently wants extra lodging and care amenities for its aged residents, so bringing institutional funding to the sector via portfolio gross sales like this may definitely assist scale back the scarcity.
“Institutional transactions complement the gross sales we proceed to make to particular person traders on different tasks, giving us a greater gross sales combine and positioning us for continued progress in face of robust demand for senior residing and care amenities.”
To learn the newest version of the newest IPE Actual Property journal click on right here.