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04.12.2014

GSK advises Multiplex Property Fund on the sale of nursing homes portfolio to Patrizia

GSK Stockmann + Kollegen advises Multiplex European Property Fund, a property trust listed on the Australian Securities Exchange (ASX) which owns more than 90% interest in property assets located throughout Germany, on the sale of five nursing homes in Germany to Patrizia Pflege-Invest Deutschland I, a real estate special fund focussing on modern, high-quality health care properties.

The portfolio, known as the Silver portfolio, comprises  “Haus am Steinsgraben“ in Göttingen, “Seniorenzentrum Im Brühl“ in Erfurt, “Residenz Lahnblick“ in Wetzlar, “Haus Bernhard“ in Eisenhüttenstadt and “Haus Andreas“ in Schwedt. The five nursing homes were completed in 2001 and 2003 respectively and offer a total of 632 care places and 29 units in the assisted living area. The nursing homes were acquired by investment fund Patrizia Pflege-Invest Deutschland I. The parties agreed not to disclose the transaction value, but this deal may be considered one of the biggest nursing home transactions this year.

GSK Stockmann + Kollegen offered extensive legal advice in real estate law to the seller.

The full text of the deal news can be downloaded here.

Legal advisor to Multiplex European Property Fund:
GSK Stockmann + Kollegen: Dr. Olaf Schmechel (leading partner, Real Estate), Dr. Enno Stange (Real Estate), Christian Hausdorf (Real Estate)

Contact GSK Stockmann + Kollegen:
Dr. Olaf Schmechel