Threestones Capital has acquired a new nursing home, called Villa Betania, located in the Arenys de Mar municipality of Barcelona, for its investment vehicle TSC Fund - Eurocare IV for a total of 4.2 million euros.
The complex acquired by Threestones Capital includes two buildings with 2,422 sqm and 1,667 sqm of rentable area and 78 private beds. The residence is known for its central location in Arenys de Mar and offers beautiful sea views as well as a peaceful retreat for its residents. The property will be leased and operated by the Spanish operator Grupo Lantus.
"We are pleased to announce our thirteenth acquisition in Spain, which brings the total number of care beds managed by Threestones Capital in the country to 1,413, with a total market value of around €97 million. Over the next decade, Spain is expected to see one of the highest growth rates (25%) in the number of people aged 65 and over, according to Oxford Economics. We will continue to explore other properties in the region," says Beka Pipia, Portfolio Manager at Threestones Capital.
Threestones Capital was supported by Pavia e Ansaldo on the legal side, Drees & Sommers on the technical side and Savills on the financial due diligence side.