Threestones Capital has sold its care homes portfolio to Swiss Life Asset Managers for €425 million ($505 million). The divested portfolio consists of 27 healthcare properties across 11 of German’s states and is rented out to German and Pan-European operators under long-term rental contracts.
“The opportunity to acquire this portfolio came at exactly the right time, as we have just launched our new Swiss Life ESG Health Care V fund,” said Nikolai Schmidt, Swiss Life’s head of healthcare transactions. “It is a rare opportunity to acquire a large portfolio of high-quality healthcare properties in Germany, and a great start for the new fund.”
The ESG Health Care Deutschland V fund invests in the nursing home, assisted living and medical center sectors, focusing on core and core-plus properties. The fund is targeting a volume of €1 billion ($1.2 billion) and already has raised equity of €350 million ($416 million). By the end of February, it had al
