A multidisciplinary team from the auditing and consulting firm PwC Germany advised the European Social Infrastructure fund managed by Civitas Investment Management Limited (Civitas) on the successful acquisition of 26 senior living facilities in Germany.
Cologne, 9 October 2024
The PwC Germany Deals team led by Dr Philipp Grobecker (Tax) and Rita Marie Roland (Financial) provided comprehensive tax and financial advice on the portfolio transaction for Civitas.
The €300 million transaction represents Civitas' first acquisition in Germany. The portfolio, comprising over 3,000 beds, was purchased from a large publicly listed residential landlord. The properties are primarily situated in prime areas of Berlin and Hamburg. As part of the transaction, Civitas will enter into long-term lease agreements with Alloheim Group, which is set to acquire the current operator, Katharinenhof. This acquisition is part of Civitas' broader European expansion strategy, conducted on behalf of the Civitas European Social Infrastructure Fund.
Civitas is the UK’s largest investor in specialist community-based care real estate, with over £3.5bn under advisory. The investment advisor focuses on community-based living or education facilities and social housing assets.
Advisors to Civitas
Dr Philipp Grobecker (Partner), Josip Oreskovic (Partner), Christian Rüffer, Yannick Wessel, Christopher Schneider, Clemens Diez (all Real Estate Tax).
Rita Marie Roland (Partner), Alexia Manukwem, Joost Völker, Swjatoslaw Jegorow, Leo Weismantel (all Real Estate Advisory).
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