Threestones Capital acquires Spanish nursing home

Luxembourg-headquartered Threestones Capital has acquired an additional nursing home facility Quercus located in Leiro, a municipality in the region of Galicia, Spain, for its TSC Fund - Eurocare IV investment vehicle.

Financial details were not disclosed.

The building has 2,845 m2 of leasable area with a total of 78 private beds which are fully occupied. The facility was built in 2014 and comprises an L structure with two floors and basement.

The property will be leased and operated by Grupo Gaudium Salud, a fast-growing operator, running 13 nursing homes in Spain.

Beka Pipia, portfolio manager at Threestones Capital, commented: 'We are glad to announce the closure of our 12th acquisition in Spain via Eurocare IV sub-fund.

'Nursing house Quercus is a high-quality property with history of strong occupancy rates. Over the next decade, Spain is forecasted to see one of the largest growth (25%) in people aged over 65 years, according to Oxford Economics. We will continue to explore other properties in the region.'

The nursing house is located in a quiet area next to the river and, according to Threestones, offers peaceful views and restful retirement to its residents.

Threestones Capital Management is an alternative investment fund manager (AIFM) which manages approximately €2 bn in four PERE regulated investment vehicles under the supervision of the Luxembourg financial authorities (CSSF).


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