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TSC Real Estate advises Threestones Capital on the purchase of the Ginkgo portfolio

By 14. September 2023September 20th, 20232023
TSC Real Estate has advised Threestones Capital on the acquisition of the Ginkgo portfolio, which comprises two retirement homes. The properties are located in Cologne and Künzell; the sellers are companies belonging to the HUK-COBURG insurance group.

The facility in Cologne is located in the bustling Kalk district close to the city centre and captivates with its in-demand mix of 40 assisted-living apartments and 80 in-patient care beds. The facility was built in 2002 and is operated by a non-profit organisation.

The second property is located in Künzell in the federal state of Hesse and is just a few minutes’ drive from Fulda. The generously proportioned facility is used for in-patient nursing care and currently has 118 beds, primarily in single rooms.

“We are pleased that in these challenging times we have once again been able to successfully initiate and conclude a structured transaction process for a portfolio on behalf of one of our clients. In addition to very good market access and a high level of transaction certainty, we have the necessary speed and professionalism in the transaction process, which makes us a much sought-after partner for sellers and also buyers,” explains Maximilian Woiczikowsky, Team Lead Investment Management, Senior Investment Manager TSC Real Estate.

“In the current market environment, it is tremendously important that buyers and sellers speak a similar language with a view to value and price so as to make transactions possible. Fortunately, that was the case here. Many thanks to HUK-COBURG Asset Management GmbH for the professional and close collaboration! We look forward to taking possession of two highly integrated and extremely well managed facilities, which have historically always enjoyed a high level of demand,” explains Berthold Becker, the managing director of TSC Real Estate.

In the acquisition of the properties the buyer was advised by KL Gates (legal), JLL (technology), Savills (valuation), and Immotiss (market). The team at CBRE functioned as the broker. GSC STOCKMANN accompanied the legal aspects of the transaction for the seller.

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