Swedish property company Kungsleden has bought a retirement home near Berlin for approximately SEK 150 mln (EUR 16.4 mln), the company said Friday. Located in Werder, some 25 km southwest of Berlin, the property has over 10,000 m[sup]2[/sup] of lettable floorspace and accommodation for 190 residents. The rental value is some SEK 11 mln, while the yield is 7%.
Swedish property company Kungsleden has bought a retirement home near Berlin for approximately SEK 150 mln (EUR 16.4 mln), the company said Friday. Located in Werder, some 25 km southwest of Berlin, the property has over 10,000 m2 of lettable floorspace and accommodation for 190 residents. The rental value is some SEK 11 mln, while the yield is 7%.
The acquisition marks a further step in Kungsleden's German retirement homes programme, launched last year, when the company bought nine retirement homes for EUR 74.3 mln. Commenting on the latest transaction, ceo Thomas Erséus said: 'We have high hopes of making more acquisitions, because the ownership of retirement home properties in Germany still remains fragmented.'
Kungsleden is set to take possession of the building on April 1.
