Deutsche Wohnen has taken over German retirement home company Hamburger Senioren Domizile (HSG) in a deal including both the company's properties and the operation of three HSG facilities.
The transaction volume was not disclosed.
The HSG portfolio includes three retirement homes in the Hamburg districts of Eidelstedt, Wandsbek and Blankenese, comprising 500 beds, hitherto owned and operated by HSG. Social real estate specialist Terranus advised Deutsche Wohnen.
The deal sees Deutsche Wohnen continue its expansion into care homes, after acquiring the Berlinovo portfolio of 28 facilities for €420 mln in August of last year, a transaction on which Terranus also advised.
In total, Deutsche Wohnen purchased more than 4,100 residential and nursing beds in the second half of 2016. It also owns a 49% stake in Katherinehof Seniorenwohn- und Pflegeanlage Betriebs, a German senior care provider which currently operates 20 facilities.
