Pavia e Ansaldo with Threestones Fund for the acquisition of the fifth residence in Spain
Barcelona, 3 February 2020 – Law firm Pavia e Ansaldo, with a team made up by the partner responsible of the Barcelona office, Meritxell Roca Ortega, and by lawyers Alessandro Tenchini and Javier Vicente García, assisted the Luxemburg investment fund TSC Fund Eurocare Real Estate, managed by Threestones Capital Management S.A., in the acquisition of the residence for the elderly “Puente Viesgo” (Cantabria), expanding to five its portfolio of long-term care centres in Spain.
Threestones Capital Management S.A. is an SGR specializing in the Real Estate sector, operating under the supervision of the Luxemburg financial authorities (CSSF), in compliance with the European financial laws. The transaction is the fifth investment of the fund in Spain with the acquisition, in 2018, of the residence “Cambrils Suite” in the Tarragona province and the acquisition of three residences in Ibiza, Burgos and Barcelona; all these transactions are included in the strategy of investments throughout the entire Spanish territory.
The deal included the transfer of the management of the facility to the Colisée Gruop. This Group is one of the main players of the social-healthcare sector in Europe, with over 37 years of experience and operates in many countries such as France, Belgium, Germany, Italy and Spain. The Colisée Group manages more than 270 residences for the elderly, offering accomodation and assistance to more than 26,800 residents and with a workforce of over 18,350 people. The Colisée Group has been solidifying its position for many years on the European social-healthcare market, and particularly in Spain, where it manages more than 40 geriatric centers and intends to continue its growth and expand its services in such country.
In this transaction, the Colisée Group has been assisted by the Madrid office of the international law firm DLA Piper.