Home » Insights » Steinbeis M&A advises “Parkklinik Hornbach” on sale in the context of a forward funding
Primonial REIM Germany has acquired the project development of the hospital property Parkklinik Hornbach in Hornbach/Zweibrücken as part of a forward funding.
After the conclusion of the contract in July this year and the official start of construction in November, the official groundbreaking ceremony is scheduled for April 2022. By the end of November 2023, an approximately 6,800 square metre private clinic for psychology, psychiatry and psycho-oncology will be built on an approximately 18,000 square metre site, which will later care for and treat 75 inpatients in a modern accommodation and treatment concept.
The purchase is being made by a Luxembourg-based real estate fund of the Primonial REIM Group. The project developer and seller is Klinotel Hornbach Errichtungs GmbH, Zweibrücken. The parties have agreed not to disclose the purchase price.
“We have found a buyer who has outstanding expertise in the asset class, nursing and health care real estate, and who has a great interest in comprehensive and efficient health care provision for society,” explains Thomas Schiwek, main initiator of the project.
In addition to the general socio-demographic development in Germany, the Corona pandemic has once again underlined the importance and increasing demand for modern facilities for the inpatient treatment of mental / psychological illnesses (anxiety disorders and affective disorders, such as depression and burnout), so that in the coming years – especially in this asset class – further increasing interest of institutional investors is expected. In a real estate market that is also unsettled by Corona, the long-term value-secured rental contracts offer a high degree of stability and predictability.
Klinotel Hornbach Errichtungs GmbH was advised by Georg R. Steimel, Partner of Steinbeis Consulting Mergers & Acquisitions GmbH, Frankfurt. Legal advice was provided by Rüdiger Bonnmann, Partner at Osborne Clarke, Cologne.
Georg R. Steimel(Partner)+49 173 521 email@example.com/en
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