Pavia e Ansaldo with the Threestones Fund for the acquisition of the seventh residence in Spain
Barcelona, 8 March, 2021 – Law firm Pavia e Ansaldo, with a team composed by partner responsible for the Barcelona office, Meritxell Roca Ortega, and by associate Alessandro Tenchini, advised the Luxembourg investment fund TSC Fund Eurocare Real Estate, managed by Threestones Capital Management S.A., in the acquisition of the residence for the elderly “El Fontán” (Oviedo), thus reaching the number of seven care homes in Spain in its portfolio.
Threestones Capital Management S.A. is an SGR specializing in the Real Estate industry operating under the supervision of the Luxembourg financial authorities (CSSF), in compliance with the European financial laws. This transaction represents the seventh investment of the fund in Spain with the acquisition, in 2018, of the nursing home “Cambrils Suite” in the Tarragona province, the acquisition in 2019 of three residences in Ibiza, Burgos and Barcelona and with the acquisition, last year, of two residences in Cantabria and Saragozza; these are all transactions settling in the context of an investment strategy throughout the Spanish territory.
The transaction included the transfer of the management of the centre to the Colisée Group. The Colisée Group is one of the main players of the social-sanitary sector in Europe, with over 37 years of experience and operating in various countries such as France, Belgium, Germany, Italy and Spain. The Colisée Group manages more than 270 residences for the elderly, offering accommodation and assistance to over 26,800 residents and with a work force of more than 18,350 people. The Colisée Group has been consolidating for several years its position on the European social-sanitary market, and particularly in Spain, where it manages more than 40 geriatric centres and intends to continue its growth and expand its services in such Country.
In this transaction, the Colisée Group was assisted by the Madrid office of the international law firm DLA Piper.