TSC Real Estate has advised the Eurocare IV fund managed by Threestones Capital Management on the purchase of an inpatient care facility in Schwarzach in the state of Baden-Württemberg. The care property was fully refurbished in 2022 including the construction of an additional new-build section, and offers 71 single rooms in compliance with all relevant regulatory requirements. TSC Real Estate is acting as operating partner for the fund and has been instructed with the long-term transaction consulting, asset and property management, technical management and accounting and investment administration services.
As part of the purchase of both the property and the operating company, TSC Real Estate has been successful in appointing established operator Cosiq GmbH as long-term operational partner.
“The German operator market in the inpatient care segment is known to be relatively highly fragmented and divided between individual owner-managed operating companies and larger professional operators. Over recent years, we have specialised in identifying suitable continuing business opportunities and matching them to selected operators from our own network either before or after acquisition. This ensures the continued provision of care services, and the businesses can then be optimised and professionalised as necessary,” explains Maximilian Woiczikowsky, Director of Investment Management at TSC Real Estate.
“We are convinced that with Cosiq GmbH we have identified a long-term sustainable and high-performance operational solution for this attractive care facility and have thus initiated an appealing investment opportunity for our client. This also brings positive aspects in terms of ESG compliance. In addition to the existing heat pump and photovoltaic installation, we will be introducing smart metering in the near future in order to integrate the property into our comprehensive cockpit solution,” continues Berthold Becker, Managing Director of TSC Real Estate.
The buyer was advised on the acquisition of the property by KL Gates (legal), JLL (technical), Savills (valuation) and LKC (tax).