GSK Stockmann provides comprehensive advice to AviaRent Invest AG on the purchase of three specialist clinic properties in Bavaria from the Oberberg Group for their social real estate special fund European Social Infrastructure I. It was agreed not to disclose the purchase price.
As part of the transaction for the pan-European open-ended special fund, which was completed on Wednesday, the assets Fachklinik Scheidegg and the Panorama Fachklinik (both situated in Scheidegg in Allgäu) as well as the private clinic Jägerwinkel (in Bad Wiessee near Lake Tegernsee) were sold to AviaRent.
The properties are equipped with a total of over 230 rooms and an accumulated usable area of approx. 19,000 sqm. With these acquisitions, AviaRent’s investment volume of 500 million euros is to be further exploited by the end of this year.
The three medical institutions are specialized in psychiatric, psychosomatic and psycotherapeutic treatments. The clinics Scheidegg in Allgäu and Jägerwinkel at Lake Tegernsee are private clinics, whereas the Panorama Fachklinik in Scheidegg mostly attends to statutorily insured patients.
“After a comprehensive review, we decided to add the three specialist clinic properties to the fund. We were convinced by the track record of the Oberberg Group, which will ensure a sustainable occupancy rate of the three clinics. In addition, we consider the location of the clinics and their modern equipment to be very attractive. The properties meet both our and the investors’ demanding criteria,” explains Sascia Valkier, Head of Transaction Management at AviaRent Invest. “We are also pleased about the long-term partnership with Oberberg Gruppe as the leading operator in the field of psychiatry, psychosomatics and psychotherapy in Germany. Due to the increasing aging of the population, comprehensive and efficient health care is of particular importance for society”.
GSK Stockmann provided comprehensive advice to AviaRent on this transaction, which was structured as a bidding process. In addition to the acquisition structuring, the tasks included due diligence covering all legal and tax issues, purchase contract negotiations and the negotiation of the new lease agreements to be concluded.
In this transaction, GSK Stockmann was once again able to demonstrate its expertise in the asset class of care and healthcare real estate with one of the largest healthcare teams in the market. GSK Stockmann partner Olaf Schmechel sees hospital real estate, which is often sold in a sale and leaseback transaction, as a dormant asset class that is becoming increasingly important.
GSK Stockmann has been advising AviaRent on the acquisition of nursing care properties, facilities for assisted living for the elderly and assisted living clinics and the purchase of micro-living properties on a regular basis since 2009. The team surrounding GSK Partner Olaf Schmechel had most recently advised AviaRent on the purchase of a portfolio encompassing twelve nursing care properties and properties for assisted living in Germany, also for the special fund European Social Infrastructure I. The total purchase price here exceeded 185 million euros.
Advisers of AviaRent:
GSK Stockmann: Dr. Olaf Schmechel (lead, Real Estate), Caglayan Birkan, Olaf Jacobsen (both Real Estate), Kristina Marx, Nika Richard (both Public Sector), Dominik Berka, Andreas Ebert (both Tax), Rebecca Comtesse (Finance)
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