CapitalBAY expands care home portfolio and buys Benediktuspark near Frankfurt

Berlin, 24. Januar 2018

Berlin, 24 January 2018 – Berlin-based Capital Bay GmbH (CapitalBAY) has acquired the Benediktuspark senior care home in Ortenberg near Frankfurt.

The almost fully occupied residential care facility has around 120 beds and total usable space of approximately 7,000 sq.m. Originally built as a hospital in 1960, the building was converted into a care home in 2004. The facility received the top mark of 1.0 in the quality assessment by the health insurance funds’ medical service (MDK) in both 2016 and 2017.

George Salden, CEO of Capital Bay, says: “The building has no refurbishment needs. Our partner CURATA Care Holding GmbH will take over operation of the facility.” CURATA already operates another senior care home in nearby Nidda.

Ortenberg, which is located in the Wetteraukreis county 38 kilometres north-east of Frankfurt, has a population of over 9,000. The town is dominated by the renaissance castle that overlooks the medieval town centre. It is situated on the railway line between Giessen and Gelnhausen and the A45 motorway, which links Dortmund and Aschaffenburg, and is close to the A66, which connects Frankfurt and Fulda.

 

 

CAPITALBAY IN BRIEF

CapitalBAY is an alternative investment manager for real estate. The company serves institutional and semi-professional investors, offering holistic solutions to meet the full range of investment needs. CapitalBAY manages properties across all asset classes on behalf of their owners and tenants.

Through the use of digital processes and tools, CapitalBAY and its CB management companies are able to serve the entire real estate value chain. The company’s internally developed transaction software provides advanced support to investment managers in their acquisition and valuation activities. CapitalBAY pays particular attention to property users as the key drivers of cash flows across the value chain.

Since its foundation in 2016, CapitalBAY has closed transactions totalling approx. EUR 1.7 billion and currently manages properties throughout Germany valued at some EUR 1.5 billion. CapitalBAY has six office locations in Germany, including its head office in Berlin, with a staff of roughly 90.

Media contact:

Anke Sostmann / Tom Zeller
Executive Director / Managing Partner Feldhoff & Cie. GmbH
Eschersheimer Landstr. 55
60322 Frankfurt, Germany
T: +49 69 2648677 - 14 / -15
M: +49 159 04028505 / +49 176 10430063 e-mail: as@feldhoff-cie.de / tz@feldhoff-cie.de

Company contact:

George Salden
Chief Executive Officer
Capital Bay GmbH
Sachsendamm 4/5
10829 Berlin
T: +49 30 120866 20
e-mail: george.salden@capitalbay.de