Prime Properties, a Luxembourg-based investment fund acquires two German elderly homes with support from act legal Germany

The two residences gather 175 rooms and 49 appartments (assisted living) with a total useable space of approximatively 15,000 sqm. One residence ‘Weingarten Nursing Home’ is still under construction and is located in the inner-city area of Weingarten (near Karlsruhe). The other one ‘Haus Edelberg Senior Citizens’ is located in the center of Elchsheim-Illingen and was built and delivered in 2020. Both residences will continue to be operated by ORPEA and were for this purpose leased back from ORPEA on a long-term basis. Accordingly, both transactions were structured as ‘Sale & Lease Back’ agreement. The purchase price ranges in the higher double-digit million range.

Both buildings will continue to be operated by ORPÉA and were, for this purpose, leased back from ORPÉA on a long-term basis. Accordingly, the transactions were structured as Sale & Lease Back transactions.

In addition to negotiating the purchase and lease agreements for both buildings, act legal Germany also rendered advice, as well as undertaking matters of drafting, with regard to the German corporate structure of the acquiring companies. Furthermore, we assist in the acquisition financing concerning in legal matters. The internationally active ORPEA Group, head-quartered in Paris, is one of the world’s leading providers in the field of comprehensive long-term care (nursing homes, rehabilitation facilities, psychiatric hospitals). ORPEA, which is listed on the Paris stock exchange, operates more than 1,110 nursing and healthcare facilities in 23 countries.

Background info:

For Prime Properties this was a first regarding the purchase of real estate in Germany. act legal Germany was recommended by the Luxembourg law firm KleyrGrasso.

In this transaction, act legal Germany benefited from its strong international wiring and its proven expertise in the field of nursing care real estate.

Advisor Prime Properties:

act legal Germany: Dr. Tara Kamiyar-Müller (Real Estate Law, Lead), Dr. Fabian Laugwitz, MBA, LL.M. Eur. (Commercial tenancy law), Dr. Matthias Müller, MBA (Real Estate Law, Corporate), Sarah Landsberg (Corporate), Marcus Columbu (Finance); Jessica Zenz-Spitzweg (Project Management)

Baker Tilly: Dr. Peter Eggers, David Kubisch (Tax)