Civitas Investment Management has marked its entry into Germany with the acquisition of €300 million worth of elderly care and assisted living homes from Deutsche Wohnen.
The specialist community-based care real estate investor, investing on behalf of the Civitas European Social Infrastructure Fund, has acquired the operating company Katharinenhof’s 26 properties, located mainly in Berlin and Hamburg.
Civitas said it is also entering into lease agreements for the 3,000-plus bed portfolio with care operator Alloheim, which will acquire Katharinenhof and continue to provide care and support for the residents.
Civitas European Social Infrastructure Fund was established in 2022 and invests in support and care-based community housing, education and healthcare facilities across a selection of major Western European markets.
The acquisition of the Katharinenhof care property portfolio marks Civitas’ second investment in Europe. This follows the €50 million acquisition of a Swedish supported social housing operator and its underlying assets in 2022.
Source: realassets.ipe.com on the 3rd of October, 2024
https://realassets.ipe.com/news/care-home-investor-civitas-enters-german-market-with-300m-acquisition/10076034.article