Stuttgart – Belgian group Cofinimmo is continuing its expansion strategy in Germany by adding two care home properties to its healthcare portfolio in the country via deals worth EUR 26.5 million.

Cofinimmo recently acquired the Bismarckpark retirement care centre in Gelsenkirchen for EUR 11.4 million. The facility is operated by Curanum AG, which is part of the Korian Group. The property dates from 1998. It comprises 6,466 square metres of space and currently has a total of 133 beds. Cofinimmo has also acquired the Riesa retirement centre in Saxony. The property is still under construction and changed hands for EUR 15.1 million. On completion in spring 2018, it will accommodate 138 beds across a total of 6,450 square metres. It will be operated by Azurit Rohr GmbH.

A CMS team headed by lead partner Dr Stefan Voß advised Cofinimmo on all legal aspects of the acquisitions. This is CMS’s fourth completed instruction this year on behalf of the international real estate firm. These two acquisitions raise the value of Cofinimmo’s healthcare portfolio in Germany to more than EUR 94 million.

Brussels-based Cofinimmo Group is a leading Belgian property company that specialises in healthcare real estate, offices and sales distribution networks, such as cafés and restaurants. The company’s property portfolio has a total area of 1,834,000 square metres and a value of EUR 3.5 billion. Cofinimmo operates in Belgium, France, the Netherlands and Germany.