UAE-headquartered Shari’ah-compliant investment management compan Gulf Islamic Investments has acquired two German senior care facilities as part of its latest acquisitions through the EUR 500 million European senior living fund in a joint venture with Capital Bay Group a German investment and asset manager.
The fund has a primary focus in Germany, enabling MENA-based investors to participate in this highly desirable asset class, providing resilience and above-average returns in comparison to other European real estate opportunities. The latest two senior care facilities, successfully acquired by GII in mid-2022, are located in Laucha (Saxony-Anhalt) and Holzminden (Lower Saxony), Germany, with more than 200 care beds. The investments qualify as “manage-to-core” assets, with existing cashflow and robust capital expenditure programmes, allowing good medium-term value creation. Both assets are run by major care home operators, in line with GII’s focus on professional and client-centric operations.
The fund has a strong pipeline and GII has already scheduled further equity deployment in 2023, allowing further deployments in the current dynamic but fragmented European real estate environment.
Also published on Medium.