Hemsö is acquiring two nursing homes, in two separate transactions, in the state of Bavaria in Germany. The investment amounts to EUR 28 million.
The acquisitions consist of one nursing home in the city of Pullach, in the outskirts of Munich, and one nursing home in Pfronten, close to the Austrian border. The facility in Pullach has been leased by Gemeinnützige Paritätische Altenhilfe in a 25-year rental agreement. The facility in Pfronten has been leased by Korian in a six-year rental agreement.
“We are pleased with these acquisitions in Bavaria, a state where we want to grow our portfolio of nursing homes. We now own close to 70 nursing homes in Germany, eight of which are in Bavaria with around 700 beds,” says Jens Nagel, Head of Region, Germany at Hemsö.
The nursing home in Pullach has 139 beds and the nursing home in Pfronten has 70 beds.
The market value of Hemsö’s total portfolio of 82 properties in Germany is over EUR 1.3 billion.