Immac to launch 2 new funds this year

German investment firm Immac said that it has started the marketing and placement of two new property funds focused on nursing homes, Pflegezentren Baden-Württemberg II and Pflegezentren Austria VII.

The Pflegezentren Baden-Württemberg II vehicle will invest in two recently-completed nursing homes located in the German cities of Singen and Westerheim. Pflegezentren Austria VII will acquire an existing senior housing park in Unterpremstätten near Graz.

Immac said that it expects 2010 to be a year of strong growth, with investments planned in Germany, Austria and the UK. The company has recently opened an office in Great Britain for investment in social services real estate.

Last year the company placed seven real estate funds, with the latest being closed in November, Pflegezentren Austria V and Pflegezentrum Bad Rodach.