Pavia e Ansaldo with Threestones Fund for the acquisition of the sixth residence in Spain
Barcelona, 19 March, 2020 – Law firm Pavia e Ansaldo, with a team made up of the partner responsible for the office of Barcelona, Meritxell Roca Ortega, and by lawyers Alessandro Tenchini and Javier Vicente García, assisted the Luxembourg investment fund TSC Fund Eurocare Real Estate, managed by Threestones Capital Management S.A., in the acquisition of the residence for elderly people “Torre del Angel” (Zaragoza), thus increasing to six its portfolio of centres for residence of the elderly in Spain.
Threestones Capital Management S.A. is a management Company specializing in the Real Estate field operating under the supervision of the financial authorities of Luxembourg (CSSF), in compliance with the European financial laws. This transaction represents the sixth investment of the fund in Spain considering the acquisition, in 2018, of the residence “Cambrils Suite” in the province of Tarragona, followed by the acquisition last year of three residences in Ibiza, Burgos and Barcelona and, this year, of a residence in Cantabria; all these transactions are a part of the investment strategy throughout the Spanish territory.
This 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 and health sector in Europe, with over 37 years of experience, and it is active in many countries such as France, Belgium, Germany, Italy and Spain. The Colisée Group manages more than 270 residences for the old age, offering accommodation and assistance to more than 26,800 residents and with a work force of over 18,350 people. The Colisée Group has been strenghtening for many years its position in the European social and health market, and particularly in Spain, where it manages more than 40 geriatric centres; it 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.