#BNPParibas Real Estate Investment Management (#REIM) has acquired nursing home portfolio, consisting over 500 beds in Germany for the Healthcare Property Fund Europe (#HPF Europe).
Launched in the first trimester this year, the portfolio on behalf of HPF Europe is worth €200m of equity commitments. The portfolio’s five assets is a partnership between Cardif Lux Vie and AG Real Estate.
The portfolio consists of five healthcare real estate spanning over 23,500 sq m in their total rental area. Run by two companies- Alloheim and Dorea- the properties are scattered over Germany to be used as nursing homes, comprising 435 nursing home rooms and 19 assisted living units. Alloheim operates three horsing homes, while Dorea runs the other two assets.
In a statement, the CIO of #BNP Paribas REIM in Germany, Isabella Chacón Troidl remarked that the European healthcare sector is characterized by considerable stability and above-average growth opportunities and the portfolio will enable the fund access to the German healthcare market.
Adding to the effect- Fund advisor of HPF Europe, Paul Darribere said that the acquisition is a milestone for them since it fits the targeted €1 billion investment strategy in accordance with their quality of assets and location in the German market.