Primonial REIM fund invests €145m in German senior housing facilities

Primonial REIM’s healthcare and educational focused real estate fund has invested €145m to buy 8 senior facilities in Germany.

The manager said its €3bn Primovie fund has bought the fully-leased assets in a sale and a 20-year leaseback deal with Dana-Sarec. The assets are situated in Lower Saxony, Schleswig-Holstein and Hanover.

The 52,000sqm portfolio comprises of 6 nursing homes, 1 senior residence and 1 mixed-use facility, offering a total of around 900 beds and 163 units.

Grégory Frapet, chairman of the executive board at Primonial REIM, said: “This acquisition forms part of the strategy adopted by Primonial REIM, as a major player in healthcare real estate in Europe, to continue investing actively in this asset class and establishing solid and long-term partnerships with its healthcare tenants.”

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