Threestones Capital Management bought a 120 beds nursing home in Milan in via Parenzo 9 from Fondo Socrate, managed by Fabrica Immobiliare sgr. The nursing home is called Santa Marta and is managed by Segesta (Korian group).
The deal was financed by Ubi Banca and has been signed by TSC Oglio srl, a newco controlled by TSC Eurocare Real Estate Fund, the third real estate investment veichle launched by Threestones and still in fundraising for reaching a 500 million euro target (see here the sale act and the press release). This is the first deal for the fund in Italy.
Eversheds Sutherland law firm supported Threestones Capital Management in the deal, while Pavia e Ansaldo law firm supported both Fondo Socrate and Ubi Banca.
Last december Fabrica announced an agreement to sell two of its portfolio nursing homes in Milan for a total consideration of 23.1 million euros to a unique institutional investor with the deal to be finalized by march 30th (see here the press release). One of the two nursing homes was Santa Marta (valued 11.8 million euros) and the other was located in via L. Ornato 69 (valued 11.3 million euros).
The via Ornato nursing home has been sold too in the meantime. However the acquiror was not Threestones. It was the actual nurising home manager that is a social cooperative (Cooperativa sociale Coopselios) (see here the sale act and the press release).