German lender BayernLB is providing a EUR 32 mln refinancing loan to unnamed fund investors who own a portfolio of six nursing homes in Germany. The four assets in Bavaria and two in Hesse, totalling 650 beds, are operated by European pharmaceuticals firm Phoenix Group.
German lender BayernLB is providing a EUR 32 mln refinancing loan to unnamed fund investors who own a portfolio of six nursing homes in Germany. The four assets in Bavaria and two in Hesse, totalling 650 beds, are operated by European pharmaceuticals firm Phoenix Group.
The refinancing will be used to repay an existing credit facility.
BayernLB is a major lender to the nursing home sector. It has financed 52 nursing homes with about 2,200 apartments and 4,800 in-patient beds.
