Civitas Investment Management Limited has progressed its continental European expansion strategy with the €300 million ($331 million) acquisition of 26 elderly care and assisted living homes predominantly located in Berlin and Hamburg, Germany, from Deutsche Wohnen, a subsidiary of Vonovia SE. Civitas has invested on behalf of the Civitas European Social Infrastructure Fund.
Civitas European Social Infrastructure Fund was established in 2022 and invests in high-quality support and care-based community housing, education and healthcare facilities across a selection of major Western European markets. Civitas seeks investments with income underpinned by insurance, governments or local municipalities.
The portfolio will meet Civitas’ ESG investment criteria of delivering positive social impact in local communities and improved environmental considerations through an extensive capital expenditure program which aims to see more half of the portfolio achieve an EPC rating
