Hamburg-headquartered Values Real Estate has acquired a medical centre in Germany from Luneta Langenhagen Immobilien for its institutional fund Values Health Invest.
Financial details were not disclosed.
The health facility, located in the city centre of Langenhagen near Hanover, is situated directly on the pedestrian zone in the Ostpassage. It is positioned opposite Langenhagen city centre and in the immediate vicinity of the Langenhagen-Zentrum underground station.
Henning Klöppelt, chief investment manager of Values said: 'The medical centre fits very well into the existing portfolio of our Values Health Invest. Langenhagen in particular has a rapidly growing population forecast of eight percent in this decade alone.
'On the investor side, we are registering a rapidly growing interest in such healthcare properties and our fund.'
The medical centre was built in 1992 and has since undergone several refurbishments. It comprises around 11,000 m2 of rental space, 143 underground parking spaces and nine outdoor parking spaces.
The anchor tenant is one of the large radiological and nuclear medicine facilities in the Hanover region. The medical centre also includes one of the largest fertility centres in Lower Saxony.
Almost fully let, occupiers include a total of 15 doctors from 14 different specialties, a pharmacy and a medical supply store, plus some retail and office tenants.
The Values Health Invest fund has a core / core plus risk profile and invests in medical centres and medical care centres on behalf of institutional investors. Currently comprising a war chest of around €200 mln, according to Values, high demand from investors could see the fund's target volume expanded to over €300 mln.
Maxry Immobilien Service brokered the deal.
