- “Wohnstift auf der Kronenburg” comprises 194 assisted living units and 138 nursing care places
- Substantial investments and contract extension until at least 2045
TSC Real Estate has negotiated a long-term extension of the existing lease with operator Alloheim on behalf of the Threestones Eurocare Fund for the “Wohnstift auf der Kronenburg” in Dortmund. The agreement has been agreed to run until 2045, with two additional extension options for a further five years each.
“The long term ensures predictability for investors, operators, and, last but not least, residents. In addition, as the investments in the facility planned by both the owner and the operator, it demonstrates the clear commitment of all parties to the established location in Dortmund-Kronenberg,” says Olaf Herzberg, Director of Asset Management Healthcare at TSC Real Estate.
Alloheim and the landlord have jointly agreed on targeted future investments in the building and its operation as part of the extension. The modernization package, totalling just under five million euros, will be used for energy improvements and optimizations (modern ventilation and heating technology in conjunction with the installation of a photovoltaic system, optimization of swimming pool technology, shading systems, smart home functionalities for residents, etc.), security measures (locking technology, replacement of the fire alarm system), lighting, infrastructure such as elevators, and the renewal of equipment. The new lease also deliberately includes green lease guidelines, which provide for the installation of wall boxes to enable e-mobility on site, for example.
TSC acts as an operating partner for the Eurocare Fund and is entrusted with long-term transaction advisory and consulting, asset and property management, ESG services, technical management, accounting and administration of the property companies.
The care and assisted living facility is located in the heart of Dortmund and has 138 care places, spread across 91 single and 24 double rooms. In addition, there are 194 modern care apartments, each measuring between 28 and 54 square meters. Special features include a bistro, restaurant, shopping facilities, an in-house swimming pool with integrated sauna and a bowling alley. The garden includes a pond and a listed tea house.