TSC Real Estate has advised a Luxembourg-based fund on the purchase of two care homes in Lower Saxony for a total of €16 million. The properties are the retirement homes Haus am Oelber Bach located at Lichtenberger Strasse 6, 38271 Baddeckenstedt and Seniorenzentrum Neiletal located at Über der Kieckwiese 1a, 38729 Lutter am Barenberge. Both properties comprise fully in-patient care facilities.
The property Haus am Oelber Bach in Baddeckenstedt was constructed in 2002 and extended in 2008 and comprises a usable residential area of around 5,551 m² on an approx. 11,140 m² site. It offers 78 care places of which 68 are in single rooms and 10 in double rooms plus 6 assisted living apartments over an area of 258 m², which are accessed via separate entrances.
The property Seniorenzentrum Neiletal in Lutter am Barenberge was opened in 2006 and comprises a usable residential area of around 2,885 m² on an approx. 12,663 m² site. It offers 64 care places of which 52 are in single rooms and 12 in double rooms.
Both properties are located in districts with shops, medical practices, pharmacies, nearby bus stops and direct motorway access.
As part of the acquisition, the operation was taken over by Alloheim, which is able to provide all types of residential and care services in the properties, in particular in-patient and mobile care, day care, residential groups, assisted living and intensive care. The lease contracts have terms of 20 years.