HIH Invest Real Estate has acquired Telos Clinic Liblar for its open-ended special alternative investment fund Vita Invest.
The new-build core property at Radmacherstraße 83 in the Liblar district of Erftstadt in North-Rhine Westfalia, Germany, comprises approximately 3,500 m2 of total leasable space. It features three above-ground floors with 62 rooms and a total of 68 beds, as well as 21 car parking spaces.
Sole tenant Systeam has signed a 25-year lease agreement including a green lease- and transparency clause in terms of consumption data and overall carbon footprint.
Henriette Benassi, head of transaction management social & healthcare at HIH Invest said: 'Through the long-term lease agreement, we generate a secured cash flow for the fund.
'The clinic is designed for extensive treatment periods of six months on average, which, together with occupancy and supply contracts from the pension insurance and health insurance funds, ensures a high degree of planning security. Another big plus for the new clinic is that it brings its specialist staff with it from the previous facility.'
Systeam was the operator of the predecessor facility in Liblar since 1994 and is also responsible for two similar facilities in Rhineland-Palatinate, as well as a health centre with a German-wide network of consultants.
The specialist clinic for addiction disorders, which opened in April, was built sustainably to the KfW-40-Plus standard and with corresponding KfW funding. Attributes include a ventilation system with heat recovery and heat pumps as energy generators to ensure that energy consumption remains 60% below the requirement value for new buildings. A photovoltaic system on the roof is available for power supply.
The deal marks the second purchase for the Article 8 fund HIH Vita Invest, following the acquisition of a health center in Michendorf near Potsdam.
The special AIF targets new buildings or as-new existing buildings throughout Germany, which are leased long-term to operators with strong credit ratings. The focus lies on medical facilities, outpatient forms of care, and senior living. The target volume of the fund is €200 mln at the least, of which up to 50% is debt capital on a portfolio basis. Investors can participate from €5 mln.
Legal and tax due diligence was carried out by law firm Taylor Wessing from Düsseldorf. Consulting Partners Hamburg was responsible for the technical and ESG due diligence. Drommel Immobilien from Weitersburg was responsible for the brokerage of the property.
Image by: JulianHukePhotography
