GSK Stockmann advises AviaRent on the acquisition of 12 nursing homes and assisted living properties for more than 185 million euros.
GSK Stockmann comprehensively advised AviaRent on the acquisition of 12 nursing homes and assisted living properties across Germany for the fund European Social Infrastructure I (ESI I).
The nursing home portfolio covers four properties in Lower Saxony, three in Rhineland-Palatinate and two in Baden-Württemberg as well as one property each in Saxony, North Rhine-Westphalia and Bavaria. In total, these properties comprise more than 958 rooms with more than 1,400 places in nursing homes and 140 units for assisted living. The facilities are managed by the operators Pro Seniore (eight facilities), Korian (three) and Cura (one). The average remaining term of the lease agreements is slightly more than ten years.
This was the largest individual transaction AviaRent carried out in the last ten years. There are currently plans for further acquisitions that will exhaust the investment volume of 500 million euros by the end of this year.
A GSK Stockmann team of lawyers from our German and Luxembourg offices comprehensively advised AviaRent on this transaction. In addition to the structuring of the acquisition under tax law and corporate law and its implementation, this included due diligence and purchase agreement negotiations that covered all related legal and tax issues.
This transaction was yet another opportunity for GSK Stockmann to show off one of the largest healthcare teams on the market and its expertise in the asset class of care and healthcare properties.
GSK Stockmann has been advising AviaRent on a regular basis since 2009 on the acquisition of nursing care properties, facilities for age appropriate and assisted living as well as micro apartments.
Advisers of AviaRent:
GSK Stockmann: Olaf Schmechel (lead, real estate law), Philipp Mössner (corporate law), Dominik Berka (tax law), Wolfgang Jegodka (antitrust law); Associates: Emily Arkhurst, Çağlayan Birkan (both real estate), Andreas Ebert (tax law), Katharina Herdl, Kristina Marx (public law), Anna Lindner, Andrea Carraretto, Julie Nys, Chara Papagiannidi (corporate law)
