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TSC Real Estate acquires “Klinik an der Weißenburg” for Luxembourg-based fund

By 26. June 2023June 29th, 20232023
TSC Real Estate has purchased the clinic “Klinik an der Weißenburg” in Thuringia for a Luxembourg-based fund. The seller is a closed-end fund. The euro purchase price is a figure in the low tens of millions. TSC Real Estate is the exclusive investment manager for the fund and has a long-term asset and property management mandate.

“Klinik an der Weißenburg”

The facility is located in Uhlstädt-Kirchhasel, approx. 30 kilometres from Jena and approx. 50 kilometres from Erfurt and as a regional specialist centre primarily focuses on the diagnosis and treatment of rheumatic diseases. Furthermore, the property houses a centre for orthopaedic, rheumatologic and oncological rehabilitation, as well as an in-patient care facility with 40 places for senior citizens in the 1 to 5 care category.

The operator of the property is the global company Sonic Healthcare. The company is publicly listed in Australia and has more than 40,000 employees worldwide; with its German subsidiary Sonic Healthcare Germany it ranks among the leading providers of medical service centres and laboratories in Germany. Sonic operates more than 50 medical centres with approx. 7,500 employees in this sector nationwide.

“Although it would be desirable if the location of the facility had a greater gravitation, primarily with respect to the availability of specialist personnel, the facility does have a number of significant unique features both in terms of its specialised utilisation concept in the fields of rehab and therapy as well as with respect to the operator. These features – in combination with a very interesting cash return in the current market situation and together with the existing fund portfolio – make the investment a highly interesting one in the core plus sector,” explains Berthold Becker, the managing director of TSC Real Estate.

The buyer of the property was advised on the purchase process by KL Gates, GSK Stockmann, Lehmann Consult and Savills.

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