AviaRent acquires senior care centre in Eitorf for its CareVision III fund

• 65 fully-equipped in-patient nursing places and 38 assisted living, rent-controlled apartments
• 7,780 square metres of living space

AviaRent has acquired Marienhaus, a residential senior care centre in Eitorf, North Rhine-Westphalia, for its open-ended special AIF “CareVision III”. The parties have agreed not to disclose the financial details of the transaction.

The senior care centre is located on a 5,500-square-metre site and offers just over 7,780 square metres of living space. The centre currently comprises 65 fully-equipped inpatient nursing places and 38 assisted living, rent-controlled apartments. The inpatient nursing places are accommodated in 43 single rooms and 11 double rooms and have floor plans of 18 to 25 square metres.

The centre was built in 1983 and extensively modernised in 2019 in preparation for its sale. The current occupancy rate is 95 percent.

“There are very good reasons for our key strategic focus on North Rhine-Westphalia as one of our core regions, especially given the need for investment in the region’s nursing care sector. Against this backdrop, we are targeting investments in nursing care properties that satisfy our fund’s exacting quality standards. This enables us to meet the demand of both future residents and our investors”, says Yenna Haack, CEO of AviaRent Invest AG.

Thanks to its hillside setting, the senior care centre’s residents enjoy panoramic views of nearby villages and can follow what is happening in the village below from their balconies. The centre of Eitorf is roughly 300 metres from the property. The care centre features a restaurant, kitchenettes in the living areas, and outside terraces. The gardens also invite residents to relax outdoors and enjoy planting and taking care of the front garden.

The open-ended special AIF “CareVision III” invests in long-term care facilities with a geographic focus on Germany. The fund’s investment strategy also includes investments in the development of future alternative forms of living in the “Assisted Living Plus” segment, such as senior citizens’ shared apartments and assisted living properties.