TSC buys a facility for the elderly near Dresden for a health care fund

TSC Real Estate has purchased the Alte Schule assisted living complex in the town of Freital near the city of Dresden in the state of Saxony for the “5QRE HealthCare Infrastructure Deutschland 01” fund developed in partnership with Five Quarters Real Estate. The purchase price is just under 10 million euros. The seller is ZF Freital Immobilien und Verwaltungs GmbH.

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The Alte Schule residential complex is located on an approx. 5,000 m² site, just 500 m from the border with the state capital of Saxony, Dresden. It includes an area of ​​approximately 2,500 m², which is rented long term. 94% of the space is occupied by the use of assisted living. The remaining 6% is leased to the medical practices IPS Ihre Pflege Sachsen GmbH / Physiotherapie Prietz GmbH. TSC Real Estate will assume the long-term property and asset management business.

The Alte Schule residential complex is located on an approx. 5,000 m² site, just 500 m from the border with the state capital of Saxony, Dresden. It includes an area of ​​approximately 2,500 m², which is rented long term. 94% of the space is occupied by the use of assisted living. The remaining 6% is leased to the medical practices IPS Ihre Pflege Sachsen GmbH / Physiotherapie Prietz GmbH.

The retirement home “Alte Schule” is located 500 meters from the border of the city of Dresden. © TSC Real Estate

The property is a historic private school located in the district of Burgk, which was converted into a residential complex and extended with a total of 58 apartments in 2018 and is aimed at people requiring level 3 care. he school has been completely renovated and the sports hall has been replaced by a contemporary new construction housing apartments with thresholdless bathrooms as well as common areas such as the sports and therapy rooms. The installation of a bed lift allows wheelchair users and people with reduced mobility to easily access all areas of the building. The complex also includes an extensive park-like garden. There is a bus stop in the immediate vicinity of the property offering quick links to the center of Freital, which also guarantees easy access for staff and visitors. Convenience stores and other essential infrastructure are located minutes from the property.

The buyer’s legal advisor was Lambsdorff Partnerschaft von Rechtsanwälten mbB. The environmental consultant was Assmann Beraten + Planen GmbH and the technical advisor was Lehmann Consult GmbH & Co. KG. Commercial due diligence was performed by pflegemarkt.com.

The “5QRE Healthcare Infrastructure Deutschland 01” fund is a special real estate fund governed by article 8 of the European regulation on disclosure in terms of sustainable financing. It invests in a wide range of healthcare properties and caters to German institutional investors. TSC Real Estate has already purchased nine properties for the fund and plans further acquisitions in the second half of 2022.

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