Berlin-based TSC Real Estate has advised its client Threestones Capital Management on the purchase of the Rhein-Main Portfolio comprising three premium retirement homes.
The properties offer over 300 in-patient care beds and are located in Frankfurt am Main, Wiesbaden and Königstein im Taunus.
TSC Real Estate is mandated as asset- and property manager for the fund including the long-term transaction advisory, technical property management, book-keeping and investment administration activities.
The facility in Frankfurt am Main is located in the Westend district, a prime micro location within Germany’s financial services capital, and is operated as a high-quality in-patient care home comprising over 100 beds. The property was built in 2004.
The second property is located in the Dichterviertel district of the state capital city of Wiesbaden. The Kurpark spa and gardens and the city centre are within walking distance.
The facility offers a mix of assisted living apartments and in-patient care with well over 100 places and was completed in 2007.
The Hessen trio is rounded off by the property in Königstein im Taunus, which was built in 2013. The building in affluent Königstein is operated as a purely in-patient facility with around 100 beds.
All three properties are managed by the same company, a highly experienced operator which has been established on the market for many years.
Maximilian Woiczikowsky, director of investment management at TSC Real Estate, said: 'The properties are located in outstanding micro locations in regions with superb infrastructure.
'The high-specification fit-out and high-value concept with a focus on high-quality care in the very best locations make the properties a unique investment product.
'We are delighted that we have successfully completed a structured transaction process to acquire this high-quality senior living portfolio for our clients in what continues to be a challenging market environment.'
The buyer was advised on the purchase of the properties by KL Gates (legal), Lehmann Consult (technical) and Savills (valuation & commercial). The Cushman & Wakefield team acted as broker.
