Luxembourg-based fund manager AviaRent Capital Management, the German partner of Primonial Holding, has acquired a senior care residence in Dresden for €15 mln for its open-ended special AIF CareVision III.
The asset, which comprises 11,400 m2 of living space, consists of two independently used buildings in the Leuben district of the city and is located on a 9,460 m2 plot of land. The residence has a total of 252 inpatient nursing places in 44 single rooms and 104 double rooms and is fully occupied.
'Dresden’s demographic structure is changing. The number of residents aged over 75 will increase from 31,200 to just under 98,000 by 2025. This megatrend is already in full swing, which is reflected not least in the long waiting list for this senior care residence in the southeast of Dresden,' commented Yenna Haack, CEO of AviaRent Invest AG.
The open-ended special alternative investment fund CareVision III invests in long-term care facilities with a focus on Germany. According to the fund, its strategy also includes investments in the development of future alternative forms of living in the 'assisted living plus' segment, such as senior citizens’ shared apartments and assisted living properties.
