'Grey Euro' attracts investors to BlackBee nursing homes fund

Aperee, the operational arm of BlackBee, has acquired 10 nursing homes in 18 months and a number of greenfield sites

64 bed Havenwood Nursing Home in Ballygunner, Co Waterford is Aperee's latest acquistion for a reputed c€8m. The operational arm of BlackBee Healthcare Investment Fund has spent c20m on acquisitions to date, highlighting the attractiveness to investors of the "grey euro".

THE allure of the grey euro is attracting investors to a healthcare fund that has acquired 10 nursing homes in just over a year and is on track to raise €250m within the next six months.

Aperee, the operational arm of BlackBee Healthcare Fund, announced its tenth acquisition this week, the purchase of Havenwood Retirement Village, a 64-bed home in Ballygunner Co Waterford, nine months after it acquired its first home, the 52-bed Padre Pio Nursing Home in Churchtown, Mallow, Co Cork. Industry sources indicate a figure of €8m for Havenwood. To date, Aperee has spent c€20m on acquisitions.