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Press Releases 2018

INTERNOS acquires 75 units in Herne for sheltered housing

NEWS, ASSET ACQUISITION, 2018

Frankfurt, 25 January 2018 – INTERNOS Spezialfondsgesellschaft mbH (INTERNOS) has acquired 75 sheltered housing units in Herne, North Rhine-Westphalia, for its Care Invest I special fund. The units, which are still under construction, were purchased from Confirmus GmbH. The price has not been disclosed.

The residential units comprise part of the “Seniorencampus Herne-Baukau”, at Forellstrasse 46a – 46d, which INTERNOS acquired in September 2017. With a total lettable area of around 5,100 sq m, more than half the apartments have already been pre-let.

The property also includes 56 parking spaces and more than 400 sq m of additional space, which will be occupied by a bakery, a hair salon and an outpatient service. Construction is scheduled to complete in summer 2018. Johanniter Unfall-Hilfe, a well-known operator in Germany, has agreed a 20-year to manage the apartments.

INTERNOS also owns the nursing home at the site which has been operated by Protea Care since November 2017.

Paul Muno, Head of Germany at INTERNOS, said: “We are pleased to have secured Johanniter Unfall-Hilfe to operate the apartments because it is such a well-known and reliable operator. Once complete, the apartments will provide the perfect complement to the overall care offering at the newly launched retirement campus, which also includes a nursing home.”

Mathias Staudt, Health Care Fund Manager at INTERNOS, added: “INTERNOS is working to create a comprehensive retirement campus at Seniorencampus Herne-Baukau, providing a combination of shops, a pharmacy, healthcare professionals and an outpatient nursing service. We believe this is the future of sustainable care concepts.”

Terranus advised INTERNOS on the acquisition. Legal advice was provided by Dentons Europe LLP and technical due diligence by ChandlerKBS.

Company contact for further information:

Paul H. Muno
INTERNOS Spezialfondsgesellschaft mbH

Tel: +49 69 50 50 66 9 30
www.internosglobal.com

Press contact for further information:

Jochen Goetzelmann
Targa Communications GmbH

Tel: +49 69 153 24 21-0
www.targacommunications.de

Notes to Editors:

INTERNOS Global Investors is a pan-European fund and asset management platform, specialising in real estate. The company develops strategic investment and management solutions for institutional investors in all property asset classes across Europe. Principal Global Investors (PGI), which leads global asset management at Principal®, and Internos Global Investors announced in November 2017 that PGI will acquire INTERNOS, with completion subject to regulatory approvals. As part of PGI’s multi-boutique operating model, INTERNOS will retain its investment and management independence, while gaining access to the resources and scale of a major financial institution. Principal is one of the largest investment managers in the world with $655.5 billion in assets under management, of which $74.9 billion is invested in real estate through either debt or equity (www.principalglobal.com).

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