AviaRent Invest has invested €185m to buy a portfolio of twelve nursing homes and assisted living properties in Germany for its European Social Infrastructure I (ESI I) fund.

The properties, built between 1906 and 2001, comprise 958 rooms with more than 1,400 inpatient care places and 140 assisted living units.

Four of the twelve properties are located in Lower Saxony, three in Rhineland-Palatinate and two in Baden-Württemberg. One facility is also located in each of Saxony, North Rhine-Westphalia and Bavaria.

Oliver Spiewak, senior transaction manager at AviaRent Invest, said: “The successful conclusion of this major transaction confirms the growing investment potential in nursing care and assisted living properties.

“ESI I focusses on investments in qualitative assets in the sector to meet increasing demand from both investors and users.”

Sascia Hauke, head of acquisition at AviaRent Invest, said: “The undersupply of care places in Germany is attracting more and more attention, and the provision of care facilities continues to fall far short of the minimum required.

“Against this backdrop, we are planning to acquire further facilities across Germany, including a number of facilities across Europe for our ESI I fund.”