Threestones Capital acquires a nursing home in Catalonia, Spain for TSC fund – Eurocare IV

20 January 2023, Luxembourg. Threestones Capital acquires an additional nursing home facility “Villa Betania” located in Arenys de Mar, a municipality in the region of Catalonia, Spain, for its TSC Fund - Eurocare IV investment vehicle for a total of EUR 4.2M.

The facility includes two buildings with 2,422 sqm and 1,667 sqm of leasable area and 78 private beds. The nursing home is known for its central location in Arenys de Mar and offers beautiful sea views and restful retirement to its residents. The property will be leased and operated by Group Lantus, a fast-growing operator from Spain.

“We are glad to announce our 13th acquisition in Spain, which brings the total number of care beds managed by Threestones Capital in the country to 1,413, for a total market value of ca. EUR 97M. Over the next decade, Spain is forecasted to see one of the largest growth (25%) in people aged over 65 years, 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.

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About Threestones Capital Management
Threestones Capital Management SA is an authorized Alternative Investment Fund Manager (AIFM) headquartered in Luxembourg. The company manages approximately EUR 2 billion in four PERE regulated investment vehicles under the supervision of the Luxembourg financial authorities (CSSF), in compliance with European financial regulations. Founded in 2009, Threestones Capital primarily focuses on real estate investments across Europe, targeting niche asset classes. The company’s investors are a diverse mix of private individuals and institutions.

About Group Lantus
Lantus Group is a medium size operator from Spain with more than 15 years of experience. Lantus manages 5 nursing homes across Catalonia with a total of 460 beds, 195 workers and annual turnover of ca. EUR 10M.