Arabian Post Staff
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.
Follow Arabian Post
Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.
