Rolf Engel becomes new CFO of CapitalBAY

Berlin, 19 September 2019 – Berlin-based Capital Bay Group (CapitalBAY) has a new CFO: On 1 August 2019, Christoph Geissler handed over his responsibilities as CFO to Rolf Engel. In future, Geissler will concentrate on his role as Chief Investment Officer (CIO) and thus on the management of the booming transaction and investment business as well…

CapitalBAY acquires Luxembourg fund manager IC Fund Management

Berlin, 12 September 2019 – Berlin-based Capital Bay Group (CapitalBAY) has bought Luxembourg-based alternative investment fund manager (AIFM) IC Fund Management S.á.r.l., International Campus Group’s (former) fund management vehicle. With the acquisition, CapitalBAY, in the role as AIFM, also formally took over the management of one of the fund business previously managed by IC Fund…

Squareville: die neue Capital Bay Micro Living Marke

Berlin, 30. August 2019 – Die Berliner Capital Bay GmbH etabliert eine neue Micro Living Marke. Unter dem Namen Squareville betreibt die CB Micro Living GmbH deutschlandweit wohnwirtschaftliche Micro Apartments sowie gewerblich geprägte Serviced Apartmenthäuser. Squareville richtet sich an eine Zielgruppe, die temporär in einer urbanen Gemeinschaft unabhängig leben will. Erstes Squareville-Objekt ist das vor…

CapitalBAY launches procurement management company

Stuttgart, 9 July 2019 – Berlin-based Capital Bay GmbH (CapitalBAY) is launching its own procurement management company. CapitalBAY takes over Suedroh GmbH from Stuttgart, which has been importing promotional products and consumer goods from the Far East under the WIDE brand for almost 40 years. The product range comprises more than 300,000 articles. With immediate…

CapitalBAY buys retirement home in Wiesbaden and continues to expand its nursing home portfolio

Berlin, 29 January 2019 – Berlin-based Capital Bay GmbH (CapitalBAY) has bought the Dr. Drexler retirement home in Wiesbaden for an amount in the mid-double-digit million euro range from the Thamm Group. The former Haus der Gesundheit directly borders the spa gardens (Parkstrasse 8-10). Previously operated by Dr. Drexler GmbH & Co., CapitalBAY’s strategic partner, the CURATA Group, will now take over operations.

The Dr. Drexler retirement home was originally founded as a health and wellness clinic in 1969 and then gradually transformed into a retirement and nursing home. It includes four buildings with close to 14,000 sq.m. of GLA on an 11,000 sq.m. park-like plot. The three residential buildings include 261 beds, two libraries, fitness and community spaces as well as doctors’ offices. The ground floor of the main building hosts a communications centre with a reception, a hotel-style restaurant, a hairdresser, a coffee bar and a self-supply shop. Additionally, the residential areas feature kitchens and a permanent art exhibition is hosted on the site.

Dieter Wopen, Managing Director of CURATA, says: “With 2,857 beds and 28 institutions, the CURATA Group now belongs to the 30 largest nursing home operators in Germany. In order to reach our goal of entering the top 10, we are putting an emphasis on digital administration and care processes. At the same time, we are safeguarding the availability of well-trained nursing staff for our homes with the foundation of a training academy.”

George Salden, CEO of CapitalBAY: “Following Frankfurt, Bad Soden, Ortenberg and Nidda, Wiesbaden perfectly complements our regional cluster. Demand for nursing home spaces in the city is strong – with its high quality of life, Wiesbaden is very popular with the elderly. We still see high potential for the senior and nursing home market and plan to acquire further properties in the growing asset class.”

The senior residence is located close to Wiesbaden’s inner city. Several doctors’ practices, clinics and numerous leisure and cultural facilities are located within walking distance.
The seller was advised by Jones Lang LaSalle SE in the transaction.