Having launched its new healthcare real estate fund called VALUES Health Invest II recently, VALUES Real Estate has now purchased its first investment property, a psychiatric centre in the town of Glücksstadt in Schleswig-Holstein. GvW Graf von Westphalen assisted the Purchaser in the transaction by providing legal and tax advice.
The centre is a single-tenant property with a floor area of over 15,000 m² set on a plot of 69,000 m² and is leased and operated by Vitanas Group. Following a significant gutting and redevelopment by Vitanas, the centre will house 215 beds for long-term psychiatric care.
VALUES Real Estate is a property development and investment company based in Hamburg with a focus on – among other things – healthcare properties. Its new Health Invest II fund will invest mainly in nursing homes, assisted living facilities, health centres, rehabilitation clinics, laboratory facilities and healthcare-related real estate properties.
GvW advised VALUES through its Frankfurt real estate team headed by David Wende and Thomas Schroiff and further consisting of Dr Bettina Schmitt-Rady, Johannes Schuhmann, Katharina Lanio, Alina Sturm (all Real Estate Law) and Dr Michael Engel (Tax).
GvW Graf von Westphalen advised the transmission system operator 50Hertz on the award of a major contract for the North Sea Connector 2 offshore grid connection project. The project involves the planning, construction, installation and commissioning of a converter system comprising an offshore converter platform in the North Sea and an onshore converter station in Mecklenburg-Western Pomerania. The North Sea Connector 2 project is intended to connect offshore wind farms in the North Sea to the German electricity grid in future.
GvW Graf von Westphalen has advised Primepulse and Vsquared Ventures on the Series C financing round of NEURA Robotics GmbH. The transaction ranks among the largest venture financing rounds in the European startup ecosystem to date.
GvW Graf von Westphalen has advised Ethereal Space, Inc., a pioneering commercial space company, on space and satellite law matters and the establishment of its affiliate Ethereal Space GmbH.
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