Cushman & Wakefield, one of the world’s leading property consultancies, has advised Deutsche Wohnen SE on the sale of the Katharinenhof Group. The portfolio consists of 26 care properties as well as the operating platform and was sold for a total of more than EUR 300 million. Buyer of the properties is a fund managed by Civitas Investment Management (CIM). Civitas was advised on the acquisition by TSC Real Estate.
The portfolio primarily comprises fully inpatient care homes, with assisted living as an admixture, and comprises over 3,000 beds. Cushman & Wakefield acted as commercial real estate advisor to Deutsche Wohnen SE and was also responsible for the technical vendor’s due diligence as a technical service provider.
‘The healthcare property asset class is increasingly coming back into focus for institutional investors. The operating results of operators have stabilised significantly following high inflation, and they are now operating profitably. The long-term nature, demand-side stability, and a comparatively attractive return on equity are attracting both national and international sources of capital. Currently, the market offers opportunities to participate in the new property cycle in the best possible way. Significant liquidity for investments can be observed in the nursing, rehab and medical care asset classes,’ says Jan-Bastian Knod, Head of Residential Investment Germany & Head of Healthcare Advisory.
For 2024 as a whole, Cushman & Wakefield expects a further increase in transaction volume compared to 2023.
