Berlin, 13 December 2017 – Capital Bay GmbH (CapitalBAY), the Berlin-based investment manager, has acquired Seniorenheim Am Kurpark, a senior residential care home in Bad Soden-Salmünster near Frankfurt, for an amount in the low double-digit millions. The facility was opened in 1999 and expanded in 2005 with the construction of a further building on the 12,500 sq.m. property. Seniorenheim Am Kurpark currently offers 206 beds over 7,500 sq.m. of floor space, with a further seven beds currently being added. The acquired property is in good condition and almost entirely rented out.
The facility will be operated by CURATA Care Holding GmbH.
“The market for senior residences and care homes continues to offer very attractive growth opportunities,” says George Salden, CEO von CapitalBAY. “We are planning to make further acquisitions within this asset class.”
Bad Soden-Salmünster is an attractive and desirable German spa town some 60 km east of Frankfurt, with a population of 13,000. Located directly on the A-66 motorway, and with good connections on a major rail line, the town combines convenient access to the nearby cities of Frankfurt and Fulda with the rugged natural beauty of the surrounding Spessart forest.