The Luxembourg fund manager Threestones Capital Management has closed the purchase of five residences of DomusVi, an operator specialised in elderly care centres in Spain, located in Galicia, Aragón and Castilla y León, for more than 30 million euros, according to the newspaper Expansión. It is the company's largest acquisition to date in Spain.
It is a sale & lease back operation in which DomusVi will maintain the management of the residences located in Noia (A Coruña), Cangas and Lalín (Pontevedra), Zaragoza and Palencia. The management company has been advised by the law firm Pavia e Ansaldo.
Threestones Capital Management has closed the acquisition of DomusVi through the TSC Eurocare IV fund, which focuses on long lease residential properties for the elderly with operators in the sector.
Prior to the DomusVi acquisition, Threestones' previous transaction in Spain was the acquisition of a nursing home in Arenys de Mar (Barcelona), leased and operated by Grupo Lantus.
Founded in 2009, Threestones Capital Management manages more than €2 billion in four investment vehicles under the supervision of the Luxembourg financial authorities, in accordance with European financial regulations. Specifically, the company's retirement homes are located in Galicia, Extremadura, Asturias, Castilla y León, Catalonia, Aragon, Cantabria and the Balearic Islands.
