Care-Home Real Estate
as an asset class.
Care-home real estate is its own asset class - not residential RE with a care tariff premium. SGB XI tariff modeling is 60% of valuation quality. Realistic returns 4.8-6.2% with clean modeling. We connect RE valuation, ESG lens (CSRD), care-tariff depth and §34d wealth advisory in a mandate logic.
Operator insolvency wave 2023+
Convivo, Curanum, DOREAFAMILIE - three top-10 operators insolvent since 2023. Landlords with pure care lease contracts without operator-risk hedge carry 30-50% rent default risk over 12-18 months. Sale-and-lease-back structures must be built differently.
Care brown-discount through 2035
67% of DACH care homes built >25 years ago. CRREM paths adapted for care show stranded-asset risk on 41% of stock from 2030. Renovation CAPEX 800-1,400 €/m² - 35-55% covered with clean funding combination.
SGB XI tariff complexity
Care-level mix as valuation driver: PG-4/5 share grows from 18% to 28% by 2035 (BAUA). Modeling PG-3 occupancy only underestimates cash flow by 18-22%. Fixed cost allowances + investment cost refinancing are their own logic.
AME Care-Investor Stair-Step
Asset inventory - operator-risk screen - care-level mix audit - brown-discount scoring per asset
SGB XI tariff model - 10-year cash flow - CRREM path - renovation scenarios, asset-holding structuring
Quarterly monitoring - operator KPI tracking - refinancing windows - §34d family-office reporting
How we work with care investors
Diagnosis (2-3 weeks)
Asset inventory - lease analysis - operator-risk screen - care-level mix audit - age/CAPEX backlog - brown-discount scoring per asset.
Valuation (3-4 weeks)
SGB XI tariff model per asset - 10-year cash flow with tariff growth assumptions - care-CRREM path - renovation scenarios A/B/C with funding-stack mapping.
Structuring (4-6 weeks)
Asset-holding structures (REIT, family office, GmbH & Co. KG) - operator contract optimization - renovation sequencing for IRR optimization - funding application clusters.
Support (12-36 months)
Quarterly monitoring - operator KPI tracking - refinancing windows - exit optimization at market window - §34d-compliant family-office reporting.
Care-Investor × other AME clusters
Care-home mandates cross multiple sectors. We connect:
Valuation with care-specific discount factors - adapted CRREM paths - zoning
§34d license for family-office asset holdings - tax-optimized holding structures - succession
Operator consolidation mandates - sell-side on operator insolvency - carve-outs from mixed portfolios
CSRD reporting for care operators - care renovation as taxonomy investment - social-S1 healthcare
Tools for care investors
Related profiles
If you have a different role:
Hospital CFO with care exposure
Mixed portfolio - KHZG × SGB XI - operator carve-out
MVZ leadership with care ward
Consolidation strategy - care integration
Pharma family with RE diversification
Healthcare diversification - cross-sector allocation
Family Office (general)
Multi-asset structuring - wealth coordination
Common questions from care investors
Why AME STRATICON for care investors?
§34d GewO license
Marlies Machens (management) as licensed insurance + financial investment broker - prerequisite for family-office asset holdings
Healthcare-RE dual depth
Bertram Engelhardt 20+ years healthcare M&A in DACH - Marlies Machens with care-operator experience + healthcare strategy
CSRD reporting ready
Pre-built DMA templates for care operators + RE holdings - ESRS E1+S1 templates - limited assurance prep
Book Care-Portfolio Discovery Call
30 min with Marlies Machens (§34d) or Bertram Engelhardt (M&A lead). Free pre-briefing on portfolio volume + operator risks.
Book Care-Portfolio Discovery Call