DLA Piper, Pavia e Ansaldo advise Grupo Colisée and Threestones on new nursing home acquisition

DLA Piper has advised Grupo Colisée on its acquisition of a new nursing home in Oviedo (Asturias), with Pavia e Ansaldo advising Threestones on the property purchase

With the acquisition of the new nursing home “El Fontán”, the Colisée Group in Spain positions itself as one of the leading operators of nursing homes in the peninsula with the management of 52 centres and close to 7,000 beds.

The transaction consisted of the acquisition of the management and geriatric business by the Colisée Group and the property by the Luxembourg investment fund TSC Fund Eurocare Real Estate, managed by Threestones Capital Management S.A., with whom it was agreed to co-invest and enter into a business lease agreement for the continuity of the provision of geriatric services by the Colisée Group in the new residence. With this deal, Grupo Colisée continues its intense expansion plan in Spain, having positioned itself in just 2 years within the Top 10 nursing home operators in Spain.

DLA Piper advised Colisée on both the structure and the M&A process, accompanying the group in the review of the asset, the negotiation with the investor who will acquire the property and the simultaneous purchase of the business, with a team led by Madrid office partner Teresa Zueco (pictured left), together with senior associate Rocío García (pictured centre) and associate Juan Rosell.

Threestones Capital Management is an asset management company specialising in real estate, operating under the supervision of the Luxembourg financial authorities (CSSF) in accordance with European financial regulations. The transaction represents the fund’s seventh investment in Spain, which began with the acquisition in 2018 of the “Cambrils Suite” residence in the province of Tarragona and has continued with the purchase in 2019 of three residences in Ibiza, Burgos and Barcelona and last year of two residences in Cantabria and Zaragoza. All these operations are part of an investment strategy throughout Spain.

Pavia e Ansaldo advised TSC Fund Eurocare Real Estate, managed by Threestones Capital Management S.A, with a team led by its Barcelona office managing partner Meritxell Roca Ortega (pictured right), together with associate Alessandro Tenchini.