BNP Paribas Real Estate Investment Management (REIM) has acquired an extensive nursing home portfolio of more than 500 beds in Germany for Healthcare Property Fund Europe (HPF Europe).
The portfolio’s five assets are the first acquisitions for the fund, which was launched in the first half of this year. The vendor is a partnership vehicle between AG Real Estate and Cardif Lux Vie owning a wide portfolio of nursing homes across Germany. AG Real Estate is the real estate subsidiary of AG Insurance and the real estate consultant of Ageas. AG Real Estate manages a portfolio of diversified assets as an integrated operator.
“The European healthcare sector is characterized by above-average growth opportunities and considerable stability. This well-positioned portfolio will give the fund access to the particularly interesting German healthcare market,” said Isabella Chacón Troidl, CIO of BNP Paribas REIM Germany.
“This first acquisition is a significant milest
