Germany: Threestones Capital acquires Alloheim care home

Investment manager Threestones Capital has closed one of the largest single transactions in the healthcare property market in Germany in recent years, acquiring Alloheim’s Wohnstift auf der Kronenburg, a nursing home and assisted living complex in Dortmund.

Financial terms for the asset, which is operated by Alloheim under a long-term lease agreement, have not been disclosed.

The property has 335 units divided in 138 care beds and 197 assisted living apartments on 26,000 square metres.

The property was acquired for the Threestones Capital fund TSC Eurocare Real Estate Fund. The fund, which has an investment volume of €900m (US$975m), fund has so far invested in 39 facilities totalling 4,700 beds.

Threestones Capital Management is a Luxembourg based regulated investment management boutique and alternative investment fund manager with €1.6bn under management.

Alloheim is one of the main players in the German market. It is owned by Nordic Capital.