Hamburg-based fund manager Immac said that it has invested around EUR 31 mln in the purchase of four properties in the Austrian federal state of Carinthia for its new nursing centre fund, Austria VIII.
Hamburg-based fund manager Immac said that it has invested around EUR 31 mln in the purchase of four properties in the Austrian federal state of Carinthia for its new nursing centre fund, Austria VIII.
Two of the assets, which offer 60 and 84 beds respectively, are situated near Klagenfurt. The other two provide a further 30 and 85 beds respectively in the cities of Velden am Wörthersee and Villach. All the facilities are rented out with a long-term agreement to PVG Pflegezentren Vermietungs which, in its turn, sublet them to four operators.
Furthermore, Immac announced that its Ostseeklinik Schönberg fund has been fully placed in a record time of six weeks. The vehicle, with an investment volume of around EUR 22 mln, intends to acquire the newly-built specialized clinic, Ostseeklinik Schönberg. The property was delivered in March 2010 and focuses primarily on the treatment of heart, movement and breathing conditions.
The fund aims to distribute returns of 6.75%, increasing to 8.5% at the end of its 15-year life term.
Immac announced in early 2010 that it had started the marketing and placement of two new property funds focused on nursing homes, Pflegezentren Baden-Württemberg II and Pflegezentren Austria VII.
