Catella Real Estate plans to set up a EUR 1 bn open-ended fund to invest in European healthcare properties. Focus HealthCare (FHC), an open-ended vehicle, will acquire clinics, medical practice offices, nursing homes, wellness and fitness facilities across Western Europe.
Catella Real Estate plans to set up a EUR 1 bn open-ended fund to invest in European healthcare properties. Focus HealthCare (FHC), an open-ended vehicle, will acquire clinics, medical practice offices, nursing homes, wellness and fitness facilities across Western Europe.
CEO Andreas Kneip said the fund will invest up to EUR 1 bn within the next five years, with the bulk (up to 60%) invested in Germany. The target volume for individual buildings will range from EUR 5 mln to EUR 30 mln. The fund, which will be open for both private and institutional investors, is targeting a return of between 5% and 6%. Catella has already identified initial investments in Northern Germany, Bavaria and Austria, for a total price of EUR 53 mln, it added.
