CMS advised Senioren-Wohnen Holding GmbH on the deal.
Senioren-Wohnen Holding GmbH has sold a real estate portfolio comprising twelve retirement homes to a subsidiary of French asset management company Primonial. Five properties are already operational, while seven others are still at the project planning stage, making this a forward transaction. At the same time, advita Pflegedienst GmbH signed long-term leases for all twelve properties, covering a total rental area of 57,550 sq m. The transaction is thus structured as a sale-and-leaseback. The transaction is currently awaiting approval from the French financial regulator. The parties agreed not to disclose any further details of the transaction.
Berlin-based Senioren-Wohnen Holding is a real estate developer and operator of housing adapted for the elderly. It develops, builds, finances and markets properties for assisted living, residential communities and day care.
advita Pflegedienst GmbH has been providing a nationwide care service since 1994 and currently has 29 branches. With around 2,400 employees, it is one of the largest care service providers in Germany.
Primonial Immobilien GmbH, a subsidiary of French asset manager Primonial, manages a portfolio of 80 properties throughout Germany, consisting of nursing homes, clinics and retail/mixed-use assets.
The CMS team included Heinz Joachim Kummer (Picture), Lead Partner, Dr Michael Nauta, Senior Associate, both Real Estate & Public and Tobias Schneider, Partner, Tax.
Law Firms: CMS Hasche Sigle;
Clients: Senioren-Wohnen Holding;