AviaRent acquires senior care residence in North Rhine-Westphalia for its CareVision III fund

• 10,500-square-metre care property in Herdecke, close to Dortmund and Bochum
• 114 inpatient care places and 41 assisted and barrier-free serviced apartments for seniors

AviaRent has acquired a nursing and senior citizens’ residence in Herdecke (North Rhine-Westphalia) for approximately €12 million for its open-ended special AIF CareVision III fund.

The Seniorenhaus Kirchende facility is set on a 14,400-square-metre site and has a total of 114 inpatient care places in 82 single and 16 double rooms.

In addition, the property has a total usable space of 10,500 square metres and 41 serviced apartments for seniors with floor plans of either 45 or 50 square metres. The property is operated by the Convivo Group.

“Germany is undergoing a demographic transformation. Nevertheless, many German regions are far from being able to satisfy the surging demand for senior residences and nursing homes and the situation in North Rhine-Westphalia is particularly tense. Against this backdrop, we are making targeted investments in properties across the region that meet the fund’s exacting quality standards”, says Yenna Haack, Head of Acquisitions and Member of the Management Board of AviaRent Invest AG.

The ensemble of six properties is located at Kirchender Dorfweg 53. The buildings have an attractive, terrace-like design and are set on a gentle slope, offering residents beautiful views of the Ruhr promenade and the Ruhr meadows. In addition, a school and a bus stop are conveniently located in the immediate vicinity, as are pharmacies and doctors’ surgeries.

Herdecke is situated on the banks of the River Ruhr in the Ennepe-Ruhr district. By car, Herdecke is no more than 30 minutes from Dortmund.

The Luxembourg-based fund manager AviaRent Capital Management S.à r.l. is the German partner of France’s Primonial Holding. At present, AviaRent and its partner Primonial have a combined fund volume of more than €4.5 billion in the care and education sectors.