Cofinimmo invests €50mn in care home portfolio

02/05/2019

Cofinimmo continues its German shopping spree with the acquisition of four nursing care properties. The facilities, operated by Curate Care Holding, have approximately 29,000 sqm UFA and around 430 beds altogether. Their leases run for 25 years. The purchase price is around €50mn, including planned investments in property revaluation. Confinimmo has confirmed that the purchase agreements have been signed, and payment will be initiated in the coming weeks. The acquisition involves the following properties: the approx. 100-bed “Residenz Am Burgberg” in Denklingen (North Rhine-Westphalia), the “Burg Binsfeld” in Nörvenich (North Rhine-Westphalia), also with around 100 beds, the 170-bed “Belvedere am Burgberg” in Bad Harzburg (Lower Saxony) and the 60-bed “Am Schloss” in Neustadt-Glewe (Mecklenburg-Western Pomerania). Cofinimmo just recently acquired two nursing care homes in Bavaria and Baden-Württemberg at the end of April for €29mn.


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