Superbly organised sales process for an exclusive retirement home
Asset deal in the high-growth nursing care real estate market: new owner found for the high-quality retirement home with 260 rental units in a prime location in the historic spa city of Wiesbaden
Clear sales strategy
260 single rooms
The retirement home was founded as a spa clinic in 1969 and is considered highly attractive in the coveted healthcare real estate market segment: it offers character, location, infrastructure and sustainable positive prospects for investors. The comfortable retirement home with hotel character is located in the middle of the Hessian capital, directly next to the Kurpark and Kurhaus, which was held in high esteem by Goethe. The 260 single rooms and 11,000 sqm site in a premium location offer unique conditions including an infrastructure that is second to none. Renowned clinics, the Staatstheater, the Wilhelmstrasse exclusive shopping mile, the RheinMain Congress Centre and local shops and services are in the immediate vicinity. Just 38 km from Frankfurt am Main, Wiesbaden enjoys almost perfect transport links. For more than 20 years, the retirement home was run with passion as a family business, who wanted to sell it to a German investor specialising in healthcare.
"The retirement home was close to the seller’s heart. To have fulfilled all the seller's wishes was a true pleasure."
Trusted cooperation throughout all phases of the process
Demographic change in Germany offers the best prospective returns for nursing care and healthcare properties. Even today, Europe’s economically strongest nation has the second oldest population in the world. Interest from national and international investment companies, portfolio holders, insurance companies and private equity was subsequently strong and diverse.
JLL accompanied the entire marketing and sales process, working extremely closely and productively with the seller’s internal real estate manager and the owners themselves. Based on an exclusive mandate, we offered extensive advice throughout all phases and reviewed the investor offers received during the course of a structured bidding process. We then negotiated co-exclusively with two selected prospective buyers and accompanied the closing of the asset deal in December 2018.
Target exceeded within a calendar year
The purchaser of the exclusive senior citizens' residence is a subsidiary of Capital Bay GmbH from Berlin and thus a strong German investor with healthcare specialisation in line with the wishes; the takeover of the business was carried out by the renowned Curata Care Holding GmbH, which is currently on an expansion course. The originally anticipated purchase price was slightly exceeded during the structured bidding process and co-exclusive final negotiations.