TSC Real Estate, a leading investment and asset management specialist focussing on healthcare, residential and related commercial real estate, has purchased the KRÜGER Haus Halberstadt senior living facility located in the town of Halberstadt in the state of Saxony-Anhalt for the 5QRE Healthcare Infrastructure Deutschland 01 fund, developed together with Five Quarters Real Estate. The seller is a private investment company.
Foto: TSC Real Estate
The purchase price is in the upper single digit million Euro range. TSC Real Estate is exclusively instructed as investment manager for the fund and will also assume the long-term asset and property management activities.
The senior living facility is located at Erich-Bordach-Strasse 7a. It was constructed in the year 2009. The property comprises a lettable area of around 3,100 m² and offers places for 60 residents. The operator under a new 20-year lease is the regionally renowned and superbly networked company Pflegedienste Krüger GmbH.
“The population in the age category between 70 and 85 in Halberstadt is expected to grow by over 10% in the period up to 2030. There is currently high demand for contemporary and liveable residential, assisted living and senior care facilities. Haus Halberstadt is perfectly integrated into the community and lies close to the old town. There is a superb range of convenience retail amenities within easy walking distance”, says Maximilian Woiczikowsky, Team Leader Investment Management/Senior Investment Manager at TSC Real Estate.
Halberstadt has a population of around 40,000 and is located in the northern Harz foreland region. The cities of Braunschweig and Magdeburg are around one hour’s drive from the property.
The buyer was advised on the purchase by Sammler Usinger Rechtsanwälte, Lehmann Consulting and Pflegemarkt.com.
The 5QRE Healthcare Infrastructure Deutschland 01 fund is a real estate special fund governed by Article 8 of the EU disclosure regulation. It invests in a broad spectrum of healthcare properties and is targeted at German institutional investors.