TSC Real Estate, an investment and asset management company focusing on senior living, healthcare properties and life science assets, has purchased a medical clinic in Thuringia in Central Germany.
Financial details were not disclosed, although TSC said the deal was in the low tens of millions of euros. The asset was purchased for a Luxembourg-based fund from a closed-end fund.
TSC Real Estate is the exclusive investment manager for the fund and has a long-term asset and property management mandate.
Dubbed Klinik an der Weißenburg, the facility is located in Uhlstädt-Kirchhasel, and is a regional specialist centre primarily focuses on the diagnosis and treatment of rheumatic diseases.
Furthermore, the property houses a centre for orthopaedic, rheumatologic and oncological rehabilitation, as well as an in-patient care facility with 40 places for senior citizens in the 1 to 5 care category.
The operator of the property is the global company Sonic Healthcare. The company is publicly listed in Australia and has more than 40,000 employees worldwide; with its German subsidiary Sonic Healthcare Germany it ranks among the leading providers of medical service centres and laboratories in Germany.
Berthold Becker, the managing director of TSC Real Estate, said: 'Although it would be desirable if the location of the facility had a greater gravitation, primarily with respect to the availability of specialist personnel, the facility does have a number of significant unique features both in terms of its specialised utilisation concept in the fields of rehab and therapy as well as with respect to the operator.
'These features – in combination with a very interesting cash return in the current market situation and together with the existing fund portfolio – make the investment a highly interesting one in the core plus sector.'
The buyer of the property was advised on the purchase process by KL Gates, GSK Stockmann, Lehmann Consult and Savills.
