DERECO sells nursing home and hotel in Velbert advised by Heuking

In an off-market transaction and on behalf of a Dutch family office, DERECO sold a nursing home in Velbert-Langenberg including the neighboring hotel to one of Patrizia AG’s healthcare funds. A team led by Dr. Sönke Görgens, Partner at Heuking Kühn Lüer Wojtek, advised on the transaction.
 
DERECO had acquired the two properties in the historic center of Velbert-Langenberg on a turnkey basis from Hochtief in 2010 and has since held them in its asset management portfolio. The nursing home offers 78 nursing places and a short-term care area on almost 3,900 square meters of floor space. The hotel features 22 double and nine single rooms and 29 underground parking spaces. Both properties are leased to nursing home operator Carpe Diem.
 
Cologne-based DERECO is an independent multi-family office for real estate assets, which has been investing in real estate and project developments throughout Germany since 1993. DERECO acts as trustee investment and asset manager for its single family offices. 

Counsel to DERECO
Heuking Kühn Lüer Wojtek:
Dr. Sönke Görgens (Lead, Real Estate & Construction, Contracts)
Fabian Gaffron,
Dr. Sarah Slavik-Schulz (both Tax)
Viktoria W. Kämper (Real Estate & Construction), all Hamburg