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Press Releases 2018
INTERNOS launches second healthcare property fund
Frankfurt am Main, 20 February 2018 – INTERNOS Spezialfondsgesellschaft mbH (INTERNOS), has today announced the launch of Care Invest II, its second open-end real estate special AIF focussing on healthcare property.
Care Invest II will invest in a balanced, regionally diversified portfolio of healthcare properties, with stable long-term value. The fund will focus on German nursing homes, outpatient care, sheltered housing facilities and rehabilitation clinics treating patients in psychiatry, gerontology and oncology.
The fund will invest in care homes and assisted housing properties in lot sizes between 7 to 20 million Euros and rehabilitation clinics and medical centres between 10 and 30 million Euros. Up to 60% to 75% will be invested in care properties and assisted housing. The planned acquisition period is three years.
The fund will have a total investment volume of approximately 300 million Euros, of which up to 150 million Euros will be equity. Care Invest II aims to achieve a distribution yield of up to 6% over a 10-year average.
Paul H. Muno MRICS, Partner and Head of Capital Relations & Germany at INTERNOS: “Positive yield expectations, which are higher than those on traditional office or retail investments, and the current strong financing conditions are what make this investment strategy particularly attractive. INTERNOS already has a history of healthcare property expertise and is firmly established in the healthcare property market. We currently have a property pipeline of around 60 million Euro.”
Company contact for further information:
Paul H. Muno
INTERNOS Spezialfondsgesellschaft mbH
T +49 69 50 50 66 9 30
Press contact for further information:
Targa Communications GmbH
Tel: +49 69 153 24 21-0
Notes to Editors:
INTERNOS Global Investors (www.internosglobal.com)
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).
* As at September 30, 2017
**As at September 30, 2017