Nursing home with 144 places moves to Cologne family office. IMMOTISS Asset Management is responsible for investment management, structuring and ongoing asset management.
IMMOTISS Asset Management GmbH structured and advised on a healthcare transaction in Duisburg-Rheinhausen. The buyer is a Cologne-based family office, which is taking over a nursing home with 144 places and around 6,045 square meters of rental space. The seller was abrdn Investments Deutschland AG, the German subsidiary of the Aberdeen plc Group (Aberdeen). The property value is in the lower double-digit million range. IMMOTISS Asset Management was responsible for the investment from the initial analysis to closing and will take over the ongoing management from the time of handover.
The healthcare transaction market is moving again, but under new auspices. The phase of pure price correction is over. What remains are assets whose value can no longer be explained by the real estate multiple alone.
Nursing homes are among the most demanding asset classes in the real estate market. Operator quality and creditworthiness, lease structure, investment costs, refinancing mechanisms, regulatory framework conditions and the future viability of the location are intertwined. Anyone who invests here needs an analysis that brings all factors together.
On the buyer side, IMMOTISS Asset Management was responsible for the entire mandate: from the development of the investment case to market, location and operator analysis, structuring and financing to closing. Upon handover, the unit will take over the property strategy and ongoing asset management, including lease management, CapEx control and reporting. This means that the same expertise remains at the table from the first glance at the property to the ongoing control system.
“Care properties cannot be judged solely on the basis of location, rental agreement and purchase price. The operator structure, investment costs, regulatory requirements and long-term economic viability must be considered together. This interface between real estate and business has been the focus of our work for years.”
Daniel Wolf, Managing Director IMMOTISS Asset Management GmbH
The buyer is positioned as a long-term oriented portfolio holder. The focus is on the sustainable development of the site. The operation will be continued by an established, nationwide nursing home operator. The location in the Rhine-Ruhr metropolitan region offers a good market position and long-term development prospects. The future location strategy will be developed and implemented together with the operator.
Cushman & Wakefield advised the seller Aberdeen as Sales Advisor. On the buyer side, IMMOTISS Asset Management was responsible for structuring the mandate from the initial analysis to closing. The buyer was legally advised by GSK Stockmann Frankfurt, and the technical due diligence was carried out by Albrings+ Müller AG.
“The successful conclusion was only possible through the professional and cooperative cooperation of all those involved. Our thanks go in particular to the seller Aberdeen as well as the advisors and financing partners for the exchange throughout the process.”
Daniel Wolf, Managing Director IMMOTISS Asset Management GmbH
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The requirements for investment depth in the healthcare segment continue to increase. Daniel Wolf will expand the mandate structure accordingly in the coming months, based on the platform of the entire IMMOTISS Group. The focus is on investors who are looking for this depth.
