20 December 2021

With legal counsel from GSK Stockmann, Primonial is acquiring two hospital properties in Potsdam and Hornbach for its ESI alternative investment fund

The former hotel “Bayrisches Haus” in Potsdam consists of seven buildings and auxiliary structures with a total area of 30,000 m². It will be renovated and converted into a clinic for psychiatry, psychosomatics, and psychotherapy by Oberberg-Kliniken. The building complex is scheduled to be handed over in the second half of 2022 and will be operated by the Oberberg Group under a 20-year lease agreement.

Primonial also acquired a 19,333 m² private clinic from the Parkklinik Group, the project for which will be realized in Hornbach (located in Rheinland-Pfalz) by the second half of 2023. The plans are to create a clinic specialized in psychosomatic illnesses with 75 patient beds. With these two acquisitions, the value of the ESI (European Social Infrastructure) Fund will rise to exceed 450 million euros.

GSK Stockmann provided comprehensive legal and tax advising to Primonial on both transactions (transaction structure, due diligence, purchase contracts, and lease agreements). Last year, GSK Stockmann already provided legal assistance to Primonial for the acquisition of three specialist clinics from the Oberberg Group as part of a sale-and-lease-back transaction. The team led by partners Dr. Olaf Schmechel and Dr. Philip Huperz is one of the leading counsel line-ups in this asset class, having advised for a large number of transactions and project developments in health care real estate.

Counsels to Primonial:

GSK Stockmann: Dr. Olaf Schmechel (Lead Partner, Real Estate), Jonas Wilkens (Local Partner, Construction Law), Dominik Berka (Counsel, Tax), Kristina Marx, Nika Richard (both Associates, Public Law), Caglayan Birkan (Associate, Real Estate), Felix Schill (Associate, Tax)

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presse@gsk.de
+49 30 203907-7763

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Contact person
Olaf Schmechel

Dr. Olaf Schmechel

Partner*

+49 30 203907-15

olaf.schmechel@gsk.de

* Partner: a partner within the meaning of the German Partnership Companies Act.
   Local Partner: not a partner within the meaning of the German Partnership Companies Act.
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