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Threestones Capital targets €550M of care properties for European fund

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Threestones Capital targets €550M of care properties for European fund

Investment manager Threestones Capital is aiming for a gross value of roughly €550 million of care properties as it plans a final closing of its Eurocare fund by the end of 2018, Property Investor Europe reported.

Eurocare has already acquired two properties in Germany and three in Italy, and about €200 million of investment opportunities are under study, the report added, citing Berthold Becker, managing director of Threestones subsidiary TSC Real Estate Germany.

Eurocare was launched in 2017, targeting care assets in Germany, Italy and Spain.

Threestones' Gefcare German fund, launched in 2015, purchased four care homes leased to operator ProCurand in Cham, Lam, Ingolstadt and Sigmarin. It is now fully invested with 28 care properties, according to the July 5 report.