Hogan Lovells advises M&G Real Estate on acquisition of senior living facility
Led by Frankfurt partner Markus Franken (PICTURED), Hogan Lovells has advised global real estate investment manager M&G Real Estate on the acquisition of a senior living facility in Erftstadt for €82.5 million for its open-ended European Living Property Fund.
For the European Living Property Fund, which has a volume of €578 million, this is the second purchase in Germany and the first investment in the senior living segment.
The senior living facility will be leased to the “Schönes Leben Gruppe” with a 25-year term. This group has been a rapidly growing provider of high-quality senior residences in Germany since 2017. The newly constructed 17,826 square meter facility, built to the highest sustainability standards, includes 163 self-sufficient apartments and care units with on-site support.
“We are pleased to have assisted M&G Real Estate with the acquisition of the senior living facility. The project combines sustainable construction with a forward-looking utilization concept – a strong investment in a growing market,” says Markus Franken.
Hogan Lovells team for M&G Real Estate:
- Markus Franken (Partner/Notary), Annika Lind (Senior Associate) (Real Estate Law, Frankfurt);
- Dr. Jörg Herwig (Partner/Notary), Konstantin Weber (Senior Associate) (Private Equity/M&A, Frankfurt);
- Prof. Dr. Fabian Pfuhl (Counsel, Data Protection, Frankfurt);
- Damian Sternberg (Senior Associate, Regulatory, Düsseldorf);
- Alexander Koch (Partner, Corporate M&A, Luxembourg).
