The EQT Infrastructure II fund has completed the sale of Charleston Holding to KOS and the real estate associated with the operations of Charleston to Primovie, a healthcare and educational focused real estate fund managed by Primonial REIM respectively.

Headquartered in Füssen, Germany, Charleston operates 47 care homes with 4,050 beds, four daycare centers, and seven ambulatory care locations. The Company generates more than EUR160 million (US$178 million) revenues and has around 3,400 employees.

EQT founded Charleston in 2014 with the vision to pursue a buy-and-build strategy in the German care home sector. Together with the management team and the advisory board, EQT has supported Charleston’s growth to become a leading care home operator in Germany.

Société Générale acted as financial advisor and Pöllath+Partner as legal advisor to EQT. Strategy&, EY, and JonesLangLaSalle assisted in preparing vendor due diligence materials.