The German team advised Belgian real estate company Cofinimmo on its €39 million acquisition of three retirement and nursing homes.
The three properties, located in the Rhineland-Palatinate communities of Essenheim and Bruchmühlbach-Miesau, have a combined area of approximately 14,000 square meters and a capacity of 302 beds. The properties are currently operated by Alloheim Senioren-Residenzen SE and Orpea Deutschland and were acquired subject to conditions precedent, which should be fulfilled in the first quarter of 2022. "Roof and shelf" leases were concluded for each of the three homes, with an average term of 16 years.
Commenting on the transaction, Käpplinger said, "The acquisition will optimally complement and expand Cofinimmo's portfolio in Germany. With our well-established team, we were able to efficiently support Cofinimmo in all relevant legal areas."
Cofinimmo is a Belgian listed real estate company with REIT status, specializing in the development and management of care, residential and commercial properties. The company has a diversified portfolio in Belgium, France, the Netherlands, Germany, Finland, Ireland, Italy, Spain and the United Kingdom with a total value of approximately €5.6 billion. Healthcare properties represent the largest share of the portfolio (65 percent), followed by offices (25 percent) and logistics properties (10 percent). The properties are managed by 145 employees in Brussels, Paris, Breda and Frankfurt.
For additional details on the acquisition, please read the press release.