Patrizia launches health care fund and buys three care facilities

28/01/2019

Patrizia Immobilien has launched its third health care property fund, the “Patrizia Social Care Fund III”.  The target volume is around €300mn. The focus is on German care facilities, with a 50 % proportion of assisted living facilities. Care facilities in other European countries will also be considered for diversity. The first acquisition for the fund was a portfolio with three care facilities with a high residential proportion. The three assets will be completed by 2020 and are located in Sundern and Westerkappeln (both in North-Rhine Westphalia) and in Zwickau (Saxony).They contain 128 live-in  units and 196 care places; operators are Kursana, QualiVita, and Advita, all with 25-year leases.


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