Internos Spezialfondsgesellschaft has acquired 75 sheltered housing units in Germany for its Care Invest I special fund.
No financial details were disclosed.
Located in Herne, North Rhine-Westphalia, the units, which are still under construction, were purchased from Confirmus.
Construction is scheduled to complete in summer 2018.
The residential units comprise part of the “Seniorencampus Herne-Baukau”, at Forellstrasse 46a - 46d, which Internos acquired in September 2017.
With a total lettable area of around 5,100sqm, more than half the apartments have already been pre-let.
Internos said the property also includes 56 parking spaces and more than 400sqm of additional space.
Johanniter Unfall-Hilfe, an operator in Germany, has agreed a 20-year to manage the apartments.
Internos also owns the nursing home at the site which has been operated by Protea Care since November 2017.
Paul Muno, the head of Germany at Internos, said: “We are pleased to have secured Johanniter Unfall-Hilfe to operate the apartments because it is such a well-known and reliable operator.
”Once complete, the apartments will provide the perfect complement to the overall care offering at the newly launched retirement campus, which also includes a nursing home.”
