2016 TSC German Property Income Fund

Threestones Capital Management S.A. successfully finalises the sale of its German nursing home fund. The Belgium real estate group AG Real Estate S.A. (80%), a subsidiary of AG Insurance S.A., and the Luxembourgish-based Cardif Lux Vie S.A. (20%) acquired 100% of the shares in the holding company TSC Property Holding S.àr.l. for a total of EUR 138 million.