HIH Invest Real Estate (HIH Invest) has acquired the Telos Fachklinik Liblar for its open-ended special AIF “Vita Invest”. The core new-build property at Radmacherstraße 83 in the Liblar district of Erftstadt comprises around 3,500 square metres of total lettable space on three above-ground floors with 62 rooms and a total of 68 beds, as well as 21 car parking spaces. The specialist clinic for addiction disorders, which opened in April, was built as an efficiency house to the KfW 40 Plus standard and with corresponding KfW funding. Among other things, a ventilation system with heat recovery and heat pumps as energy generators ensure that the energy consumption data are 60 percent below the requirement value for new buildings according to KfW 40 Plus. A photovoltaic system on the roof is available for the power supply.
A lease agreement with the sole tenant Systeam GmbH & Co. KG, with a 25-year lease term, a green lease clause and transparency in terms of consumption data and carbon footprint. Systeam has already been the operator of the predecessor facility in Liblar since 1994 and is also responsible for two other facilities for addicts in Rhineland-Palatinate as well as a health centre with a Germany-wide network of counsellors.
“Through the long-term lease agreement, we generate a cash flow for the fund that is secured in the long term. The clinic is designed for long-term treatment periods of six months on average, which, together with occupancy and supply contracts of the pension insurance and health insurance funds, ensures a high degree of planning security. Another big plus for the new clinic is that it brings along its specialist staff from the previous facility,” says Henriette Benassi, Head of Transaction Management Social & Healthcare at HIH Invest.
The location scores points with good local amenities, connections to public transport and the federal highway 265. 116,000 people live in the catchment area of up to 15 minutes by car alone. The cities of Cologne, Bonn and Düsseldorf can be reached in less than an hour by car.
For the Article 8 fund “HIH Vita Invest”, this is the second property purchase after the health centre in Michendorf near Potsdam. The special AIF targets new buildings or as-new existing buildings throughout Germany that are let long-term to operators with strong credit ratings. The focus is on medical facilities, outpatient forms of care and senior living. The target volume of the fund is to be at least 200 million euros, of which up to 50 percent is debt capital on a portfolio basis. Investors can participate from five million euros.
“With the HIH Vita Invest fund, institutional investors have the opportunity to participate in the growth areas of assisted living, outpatient forms of care and medical facilities. An important advantage of this segment is its independence from short-term market and economic fluctuations. Increasingly, private capital is needed to meet the additional demand for senior living and treatment places. At the same time, HIH Vita Invest offers the opportunity to cover ESG aspects when investing,” says Carsten Demmler, Managing Director of HIH Invest.
The legal and tax due diligence was carried out by the law firm Taylor Wessing from Düsseldorf. Consulting Partners Hamburg was responsible for the technical and ESG due diligence. Drommel Immobilien from Weitersburg was responsible for brokering the property.
