IC Immobilien sells senior care complex in Radevormwald

The IC Immobilien Group has used an asset deal to sell a senior care complex in Radevormwald on behalf of a closed-end real estate fund. The 9,160 square metres object provides more than 150 inpatient care places. The senior care complex is situated on an 8,774 square metre site at Uelfestraße 24.

Vendor is the BBV Immobilien-Fonds Nr. 8 GmbH & Co. KG investment fund, represented by the General Partner, EuroVal Fondsmanagement GmbH, who had mandated IC Immobilien Group as fund and asset manager, property manager and project manager and had commissioned the IC Immobilien Group to organise the sale of the object. Buyer is the Hamburg investment fund company INP, which has acquired the senior care complex in order to add it to the property portfolio of one of its funds. Both parties to the transaction have agreed not to release any details of the sale price.

"The programme of investment the owners have funded over the last few years has enabled us to successfully increase the long-term value of the property. We are pleased that our efforts have borne real fruit and that a sale in the best interests of all parties has been agreed", said Heiko Dietel, Managing Director of the General Partner and of the IC associate companies responsible for the management and sale of the property.

In collaboration with Terranus Consulting, the senior care complex was refurbished and the complex's operating company was restructured. As a result of a systematic programme the operating business was optimised, the quality of the care services were improved, occupancy rates were increased and the property was enhanced, thereby delivering the prerequisites for a successful sale. All of which has provided a strong platform for the smooth transition of the property and the long-term operation of senior care services to the new owner.