European Senior Living (ESL) has contractually agreed to acquire a substantial portfolio of senior care properties in Germany. For this transaction, ESL, a European real estate investment platform advised by Elevation Advisors LLP, received comprehensive legal support from the law firm GÖRG. ESL focuses on investments in the senior care property sector.
The acquired portfolio comprises nine care homes and 40 assisted living units. These facilities represent a total capacity of 979 care places. The properties are strategically located across the Hamburg, Hanover, Dortmund, and Cologne/Bonn regions.
Upon completion of the transaction, ESL will become the owner of the aforementioned properties. Concurrently, long-term lease agreements will be concluded with the Alloheim Group. The Alloheim Group will also take over the operation of the facilities, which was previously managed by INTEGRA.
Elevation and the Alloheim Group intend to identify and implement further potential for increasing the energy efficiency of the acquired properties as part of their future collaboration. This cooperation underscores a strategic approach to the sustainable development of the property portfolio.
At the time of the transaction agreement, the London-based investment manager Elevation Advisors managed seven properties in Germany. Following the completion of this acquisition, the number of properties advised by Elevation will increase to a total of 16 locations. This marks a significant expansion of its presence in the German senior care property market.
The legal support for the transaction was provided by GÖRG, with the advice specifically covering the legal due diligence of the entire portfolio as well as negotiations with the seller and the Alloheim Group. Dr. Philip Huperz led the interdisciplinary GÖRG team.
