TSC Real Estate, an investment and asset management company focussing on healthcare and life sciences real estate, has appointed Jenniffer Solomon to the newly created position of head of business development.
In her new role, Solomon will be responsible for the identification and structuring of investment opportunities in the retirement living, healthcare and life sciences real estate sectors in Germany and other European markets.
She will also be responsible for bringing these together with the relevant financing and capital partners from the institutional and real estate private equity sectors. In addition to Germany, the target destinations include the Benelux countries, Italy and Spain, where TSC Real Estate already has representative offices, and also the Nordic countries and France.
Berthold Becker, managing director of TSC Real Estate, said: 'In the current market environment, we see interesting investment opportunities and possibilities in the healthcare and life sciences real estate asset classes, and this is not limited to the Core and Core+ segments.
'On the one hand, the opportunities involve the properties themselves and, on the other, also the operational side. We are now superbly positioned to identify and implement these opportunities together with Jenniffer Solomon, whom I have known for many years and hold in very high esteem.
'She is not only a proven expert in the field of private equity real estate, but also has a close and reliable network with the relevant market participants, which will support us in both leveraging value enhancement potential and placing new products and services.'
Solomon will also support the expansion of TSC Real Estate as a management platform and holistic operating partner in the field of healthcare real estate via the acquisition of investment and asset management mandates.
TSC Real Estate’s many years of expertise in the management of operational real estate will also be made available to a broader customer base as an additional property management plus service.
Solomon has been active in the real estate sector for over 20 years. Prior to her move to TSC Real Estate, she was managing director of VicAsset Advisors Germany and has successfully identified investment opportunities in the value-add segment in Germany and Northern Europe for various equity and debt funds operated by Oaktree Capital. Other positions during her career include CR Investment Management, EY Real Estate and CBRE.
Said Solomon: 'The consequences of the global pandemic combined with the effects of the ongoing war in Ukraine and also the questioning of classic commercial real estate such as the asset classes office and retail mean that there is now unprecedented international focus on the healthcare and life sciences sectors.
'I am therefore very much looking forward to bringing my experience and energy to this important and sustainable area of the real estate industry here at TSC Real Estate.'
For the year ahead, TSC Real Estate is planning to expand its activities to the non-core segment and to invest increasingly outside Germany. For these purposes, the company is able to draw on the additional expertise of its affiliated companies in Italy, Spain and Luxembourg.
Talks are already under way with potential capital partners relating to the acquisition of properties with a combined volume of around €70 mln.
