Strategy
A platform built to consolidate, operate and scale.
Our objective
The leading outpatient healthcare real estate platform.
Build the leading outpatient healthcare real estate platform in Germany and the Netherlands through acquisitions, active asset management and cluster-led expansion.
Market context
Significant need-driven demand, powerful tailwinds and strong real estate fundamentals.
Purpose-built healthcare infrastructure
- Purpose-built assets designed to meet the specialised needs of healthcare providers.
- Low substitution risk: lowest-value urban planning use and below physical replacement cost.
Resilient rental income
- Healthcare real estate is underpinned by non-discretionary revenue streams.
- +95% of underlying revenues are state / public insurance funded.
Inherent tenant stickiness
- Strong linkages between healthcare businesses and their locations; doctors and specialists are reluctant to relocate despite short lease terms.
- 11-year average length of stay (ALoS) plus 6 years WALE across the MOB portfolio.
Long-term demand drivers
- Demographic tailwinds, increasing healthcare needs and advances in medical technology drive sustained demand for high-quality ambulant facilities.
- Strong regulatory tailwind from Germany's Krankenhausreform.
Defensive and growth-oriented
- Stable cashflows with opportunities for value enhancement through active asset management, redevelopment and strategic expansions.
- Strong leasing spreads.
Our value creation strategy
Five strategic levers, each amplified by a competitive advantage.
Consolidate a fragmented market
Significant acquisition capacity
Deploy capital into a highly fragmented healthcare real estate market with significant acquisition opportunities across Germany and the Netherlands.
Active asset management
Data-driven execution
Unlock NOI growth through leasing, regears, occupancy optimisation, tenant partnerships and targeted capital investment.
Build scale through clustering
Local market presence
Grow density in key healthcare markets to create operating leverage, stronger tenant relationships and a more resilient portfolio.
Partner with healthcare operators
Specialist healthcare focus
Become the preferred real estate partner for physicians, healthcare providers and healthcare consolidators.
Leverage a scalable platform
Proven execution capability
Combine specialist sector expertise, data and technology to execute efficiently and support continued growth.