Geneva-based financial services group Even Capital has announced that its healthcare property vehicle has raised one third of its target size of EUR 300 mln at the fund's first closing. Even Rx Properties is a closed-end Luxembourg investment company set up to general rental income and capital growth through investments in primary healthcare property in Germany and Switzerland. The final closing of the fund is expected to take place before the end of the year.
Geneva-based financial services group Even Capital has announced that its healthcare property vehicle has raised one third of its target size of EUR 300 mln at the fund's first closing. Even Rx Properties is a closed-end Luxembourg investment company set up to general rental income and capital growth through investments in primary healthcare property in Germany and Switzerland. The final closing of the fund is expected to take place before the end of the year.
The fund has already committed to acquire five nursing homes and it has several more transactions in the pipeline. 'Investing in healthcare and nursing facilities provides long-term rental visibility with the ability to participate in a fast growing and consolidating industry that is underpinned by a strong demographic trend,' said Morris Katri, managing partner at Even Capital. 'When compared with other asset classes, we believe these assets provide a good risk-reward profile, considering their high yield together with sensible diversification and little correlation from traditional property sectors.'