German investment and asset manager Corpus Sireo has unveiled plans to launch its second nurshing home fund, Corpus Sireo Health Care Fonds II, the company announced on the first day of the EXPO REAL property fair in Munich. The specialist fund is targeting a volume of EUR 300 mln, including around EUR 150 mln of equity capital.

The move follows the creation in 2006 of CS Health Care Fonds I, which owns a portfolio of 46 facilities with a volume EUR 430 mln. The fund is currently fully placed. Its successor - CS Health Care Fonds II - will focus on acquisitions of new buildings in Western Germany leased with a minumum term of 15 years. The vehicle, which will target an annual distribution of 6.5%, is expected to be launched by year-end 2011.