Clifford Chance has advised a fund of funds of Provinzial Rheinland on the sale of two care homes in Germany to WI-IMMOGroup GmbH, based in Hildesheim.

The homes, located in Duisburg and Dortmund, were completed in 2011. They each comprise a total leasable area of around 3,900 m² and are each designed to accommodate 80 patients. The homes are operated by ProjectCare Ruhr Betriebsgesellschaft mbH, Frankfurt, which was established in 2009 with Provinzial Rheinland as one of its founding shareholders. The parties agreed not to disclose any details of the purchase price.

The Clifford Chance team was led by partner Dr. Gerold M. Jaeger (Frankfurt) and comprised associates Philipp Schott and Alexander Shemyakin  (both Düsseldorf, all Real Estate), partner Dr. Christian Vogel and senior associate Dr. Werner Brickwedde (both Corporate, Düsseldorf), partner Dr. Peter Dieners and senior associate Maria Heil (both Corporate/Healthcare, Düsseldorf) as well as partner Dr. Uwe Schimmelschmidt (Frankfurt) and counsels Cord Freiherr von Mandelsloh and Dr. Dominik Thomer (both Düsseldorf, all Tax).