TSC Real Estate has successfully secured new long-term tenants for all four affected locations following the local insolvency of the former operator Argentum and has concluded long-term leases on behalf of the respective owners.
„In total, the nationwide care property portfolio we manage comprised six locations operated by Argentum. While two of the local operating companies have not been affected by the insolvency and we continue to work in partnership with the existing teams and structures, in the other four cases we had to demonstrate our network and expertise as an active asset manager and care property expert. I am proud of our team and would like to thank everyone involved for helping us to develop viable solutions in a timely manner. This predictability and reliability are important for the residents and their relatives, as well as in the interests of our clients and investors. Once again, it has been demonstrated that in the care sector, the insolvency of the operator does not necessarily mean a loss and that, with professional management and in-depth market networks, even a change of operator can be handled well in the interests of all parties involved,” explains Berthold Becker, Managing Director of TSC Real Estate.
The locations in question are facilities in Lüneburg (Lower Saxony) and Seitingen-Oberflacht (Baden-Württemberg), as well as in Braunschweig (Lower Saxony), Pohlheim, Bad König and Erbach (all three in Hesse). Auvictum will take over operations in Braunschweig and Pohlheim, while Pflegezentrum Rosenhöhe BK GmbH will continue operations seamlessly in Bad König and Vita Lebensweg GmbH in Erbach.
The four newly leased nursing homes have a total of 346 beds. Most of these (173) are located in Bad König, followed by Pohlheim (76), Erbach (50) and Braunschweig (47). All leases are long-term, with most running for 25 years. As part of the contract agreements, investments in the property substance, sustainability and quality of stay were also agreed with the new operator, depending on each of the properties.