Threestones Capital invests in German nursing home

Threestones Capital has closed one of the largest single transactions in the healthcare property market in Germany in recent years, acquiring a nursing home and assisted living complex in Dortmund, Germany.

The asset is operated by Alloheim under a long-term lease agreement. The property has 335 units divided in 138 care beds and 197 assisted living apartments on 26,000 square meters (280,000 square feet).

The purchase price was not disclosed.

The property was acquired for the Threestones Capital flagship fund TSC EUROCARE Real Estate Fund, investing in healthcare facilities across Europe with an investment volume of approximately €900 million ($980 million). The fund has so far invested in 39 facilities totaling 4,700 beds.