11 Oct Threestones Capital acquires additional property in spain for TSC Fund – Eurocare IV
Threestones Capital acquires an additional nursing home facility Quercus located in Leiro, a municipality in the region of Galicia, Spain, for its TSC Fund - Eurocare IV investment vehicle.
The building has 2,845 sqm of leasable area with a total of 78 private beds which are fully occupied. The facility was built in 2014 and is composed of unique “L” structure which has two floors and basement and offers high quality furniture and fittings. The property will be leased and operated by Grupo Gaudium Salud, a fast-growing operator, running 13 nursing homes in Spain.
“We are glad to announce the closure of our 12th acquisition in Spain via Eurocare IV sub-fund. Nursing house Quercus is a high quality property with history of strong occupancy rates. 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.
The nursing house is located in a quiet and picturesque area next to the river and offers beautiful views and restful retirement to its residents.
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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 Grupo Gaudium Salud
Grupo Gaudium Salud is a medium size operator in Spain, founded in 2016. The operator manages 13 nursing homes across the country, with around 780 beds and annual turnover of ca. EUR 10mln.