advita Pflegedienst GmbH
01 The opportunity
At the same time, the care service was faced with the problem of lack of suitable properties, especially in the smaller and medium-sized towns. And so, together with its sister company Senioren-Wohnen GmbH, it decided to renovate a large number of existing buildings, to convert them into advita homes and also to develop new customised properties. With a high financial outlay of their own. And the subsequent question: how to recoup the capital for new investments? The solution: sale & leaseback. But how and where can the right buyers be found? How can the best possible price be achieved? And how do you organise the whole process from the intention to sell to the watertight "lease back" contract?
These were the questions advita approached our health care team with in 2018. In concrete terms, the first step was to sell a package of twelve properties with subsequent leaseback. The goal: to achieve the highest possible sales price while at the same time ensuring a high level of transaction security. An interesting assignment with the special challenge that it was not just about an everyday real estate sale, but about a special mix of existing buildings and new developments at various locations, about the "co-sale" of an entire operator and care concept and the negotiation of a lease at the most favourable conditions possible.
02 The solution
In the subsequent structured, multi-stage bidding process, we then quickly engaged with the suitable investors. In parallel with the purchase contract negotiations, we drafted a lease and also took over the negotiations on behalf of our client.
03 THE RESULT
These two major sale & leaseback deals attracted the attention of the industry. In the meantime, properties leased by advita Pflegedienst GmbH are considered "investor's favourites" and an absolute core investment in the market. advita has established itself as one of the favourite operators in the outpatient assisted living segment and, thanks to the two real estate transactions, has also made its mark on the German real estate market.
"All in all, a very good experience – also because it was personally very enjoyable and pleasant working together."
Dr. med. Dipl.-Psych. Matthias Faensen
Shareholder and Chairman of the Advisory Board of advita Pflegedienst GmbH as well as managing partner of Senioren-Wohnen Holding GmbH.