On 27 August 2018, Germany’s Financial Supervisory Authority (BaFin) approved the sales activities of IMMAC Irland Sozialimmobilien I Renditefonds GmbH & Co. KG geschlossene Investmentkommanditgesellschaft.

Designed as public AIF, this limited investment partnership invests in three management companies that operate care facilities in Dublin/Ireland. The investment volume approximates 38 million euros, out of which c. 21 million euros represent the equity contribution.

The care facilities—Beechfield Manor Nursing Home, Glengara Park Nursing Home and Mount Hybla Nursing Home—are well established on the market, show a sustainable high occupancy rate and are located in excellent locations in the greater Dublin area.

Overall, the facilities have a capacity of 200 care spots, the single-room percentage being 98%.

Tim Sauer, the Managing Director in charge of foreign investments at IMMAC’s, said: “With shares approved for sale now by the German supervisory authority, IMMAC has demonstrated that, together with HKA Hanseatische Kapitalverwaltung AG, it successfully applied its structuring competence and 20 years of investment experience in social real estate to an attractive new investment product in the asset class of corporate investments in another European market. I am very pleased to be able to pursue our plans for further expansion in Ireland together with our branch office in Dublin and to move ahead with new investment opportunities in this principally very interesting European nursing care market on behalf of the investors of IMMAC AIFs.”