21 Oct Threestones Capital secures additional financing for 4 properties in spain for TSC fund – Eurocare IV
Threestones Capital secures additional financing from Société Générale for its TSC Fund - Eurocare Real Estate Fund investment vehicle.
Société Générale has provided a €16 million loan to refinance four nursing homes in Spain. This loan follows a first tranche granted in July to fund the acquisition of six nursing homes in Germany and two nursing homes in Spain. Both financings, with a combined value of €69.5 million, are part of Threestones Capital’s expansion into care homes across Europe.
“Care homes continue to be resilient despite the adverse macroeconomic environment of rising interest rates, increased energy costs and geopolitical tensions. The long-term inflation-indexed cashflows from the asset class have maintained the appetite of investors and lenders consistent so far ”, says Beka Pipia, Portfolio Manager at Threestones Capital.
Threestones Capital was advised by Pavia e Ansaldo and K&L Gates on the legal side, Savills on the valuation front and Westfort Advisors as debt advisor.
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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. Investors in Threestones Capital funds are a mix of family offices and institutions.