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Internos buys retirement campus in Herne for Care Invest I

Internos Spezialfondsgesellschaft mbH has acquired a care property under construction in Herne, North-Rhine Westphalia, for its Care Invest I fund. The vendor is Dietz & Kaffanke GbR. Completion of the „Seniorencampus Herne-Baukau“, at Forellstrasse 46, is scheduled for November 2017. The approximately 4,850 sq m property is pre-let to Protea Care GmbH, Herne, on a 25-year lease. Terranus advised Internos on the acquisition. Legal advice was provided by Dentons Europe LLP. Chandlerkbs carried out the technical due diligence.
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In addition to providing 80 beds in single rooms, the care home will also have a pharmacy, a GP surgery and a physiotherapy practice. Space has also been reserved for a hairdresser, chiropodist and a dentist. The concrete core activation air conditioning system is an innovative feature, which is new to the German care home sector. The care facility is located in more than 10,000 sq m of space on a site that will also include 77 serviced apartments, various shops and an underground car park.