AIF Capital finds new operator for Convivo Residence and seamlessly secures the continued existence of the Fredenbeck senior citizens' centre

Stuttgart, March 29th 2023 – AIF Capital Group, a specialist for regulated alternative investment funds, has been successful in its search for a suitable successor for the previous operator Convivo of the senior citizens’ centre in Fredenbeck, Lower Saxony. In future, “Pflegedienst Stadt und Land Stade GmbH” will take over the care services at the residential park. All residents will thus retain their familiar surroundings, and a possible closure has been averted. The takeover of the senior citizens’ centre by Stadt und Land also has positive effects for the approximately 60 employees. All employees will be offered the opportunity to stay and continue working at the facility. The Fredenbeck senior citizens’ centre belongs to the open-ended healthcare fund “AIF Fürsorge I” launched by the AIF Capital Group. AIF Capital acts as asset manager.
“We are very pleased to have found a reliable partner for our facility in the local care service Stadt und Land,” comments Daniel Wolf, Managing Director at AIF and Head of Asset Management for the Group. “It is a challenging time for care service providers. It has now paid off that we are very close to the market and have excellent networks as a specialist for age-appropriate living.”
The search for a successor for Convivo had become necessary after the group of companies filed for insolvency for its main companies at the Bremen District Court in January of this year. The facility in Fredenbeck is also affected by this. Originally, the management consultancy Roland Berger was commissioned by the provisional insolvency administrator to find a successor for Convivo. However, the search was unsuccessful.
Daniel Wolf adds: “Our self-image as a responsible asset manager requires us to act in the interest of our investors, but also for the benefit of the people who live and work in our facilities. It was therefore important to us to ensure a seamless transition in order to keep the burden and uncertainty for residents and the care staff working here as low as possible. We have succeeded in this.”

Karin Corleis, Managing Director at Pflegedienst Stadt und Land Stade GmbH: “We are very much looking forward to the new task at the Fredenbeck facility. We can build well on the concept of the residential park and have already developed some ideas on how we can make it even more attractive for both the residents and the staff. The ‘Lebenswelt Fredenbeck’ should be a lively, appreciative and beautiful place to live and work.”

The senior citizens’ facility in Fredenbeck was acquired by AF Capital Group in 2022 for the AIF Fürsorge I fund and has since been operated by Convivo. The facility offers more than 15,000 m2 of space for 75 residential units with balconies or terraces. In addition, five residential communities, each with twelve comfort flats, are available, each with a communal kitchen and lounge. The offer of the senior centre is completed by twelve places for outpatient day care. In addition to sufficient parking spaces, the facility also offers a park café and a day care centre.