P+P advises Deutsche Wohnen AG on the acquisition of a nationwide nursing home portfolio from Berlinovo
Through a structured bidding process, Deutsche Wohnen AG acquired a nationwide operating nursing home portfolio of Berlinovo GmbH. With a purchase price of EUR 420.5 m., it is the largest nursing home transaction in Germany to date in 2016. It is still subject to approval by the antitrust authorities.
In eight federal states, a total of 28 individual properties changed ownership. The previous owners and sellers of the portfolio were 13 fund companies managed by Berlinovo. The nursing homes have a total of 4,132 nursing beds in a total rental area of nearly 180,000 square meters.
Deutsche Wohnen AG is one of the leading publicly listed real estate companies in Germany and Europe. Berlinovo is a German real estate service provider owned by the state of Berlin.
P+P Pöllath + Partners provided legal and tax advice to Deutsche Wohnen AG with the following Berlin team:
- Stefan Lebek (partner, real estate law)
- Raphael Söhlke (counsel, real estate law)
- Hardy Fischer (partner, tax)
- Matthias Werner (senior associate)
- Robert Geiger (associate)
- Björn Jaffke (associate)
- Sebastian Pasch (associate)
P+P Pöllath + Partners previously advised German Wohnen AG; most recently on the acquisition of "Harald" real estate portfolio by Patrizia Immobilien AG with a transaction volume of EUR 1.1 bn.