Our field of business: the aging society

DPF AG is an unlisted stock corporation with our headquarters located in Berlin. We function as a holding for our operating subsidiaries which cover all fields in the topic “living in old age” such as real estate and corresponding services. For example, in addition to offering outpatient and inpatient care they also provide catering. DPF AG’s team is profiting from decades of experience in all the relevant business areas as well as private equity, real estate, and the operator segment.

Demographic change leads to social changes in old age. Different life plans, preferences, and individual needs require a differentiation for living arrangements and services. This market grows with its target group.

In addition to purchasing and financing sustainable, age appropriate real estate, long term asset management, and improving the quality and economic efficiency of both property and operator, DPF AG also invests in corresponding service companies and in technology companies. A central issue is the purchase of established companies as well as holding stakes in promising startups, as we focus on improving our range of services, service quality, and economic efficiency.

In our selection of investments we are looking for sustainable growth- and yield potential at an appropriate risk structure.

Our fields of business

Real Estate — investments, that create new prospects

The market for retiree accommodation has a growing shortage following demographic change. Differentiated concepts for various syndromes, preferences and life plans are in demand. Especially upscale living for the elderly is a growing market. As DPF AG we are specialised in identifying the need, analysing potentials and creating solutions. Our strategy is based on an interaction of real estate expertise, experience in yield optimisation for both real estate and operator, as well as specialist knowledge in operating nursing homes, assisted living, and serviced housing. We invest in the purchase of real estate, nursing homes, and assisted living facilities with third party operators, as well as in the expansion of our own operating company “Tertanium Premium Residences” in major German metropolitan areas. Possible investments include existing nursing homes, downtown located hotels for reassignment, and office buildings for demolition and rebuilding. Besides our function as investor and buyer, DPF AG actively participates in project design. We are in charge of project development, purchase, sale, and financial structuring of our own facilities as well as of projects with third party tenants.

Operating company – services redefining retirement

Senior living is a highly complex topic requiring expertise and sensitivity. DPF AG has the expertise through our operation company “Tertianum Service GmbH”, which also helps in the area of asset management of real estate with third party operators. “Tertianum Service GmbH” manages real estate with comprehensive service for the generation 70-plus.

Our premium living properties provide the target group with an urban and self-determined life in a classy atmosphere. Our “Tertianum” residencies are located in upscale downtown locations. They offer a wide range of services from individual household- and concierge services to outpatient and inpatient care, discerning recreation activities and a first-class catering.

The culinary concept of the Tertianum group is a central unique selling proposition. Food is an important factor of life quality in every age. Together with Michelin 2-star-, Gault-Millau 19-points top chef Tim Raue, DPF AG has developed the “Brasserie Colette” as an integral part of our concept “living in old age”. With its excellent three-course menus and meals “a la carte” the Brasserie Collette doesn’t only serve the premium living properties – an additional vintage style dining area for outside guests opens the Tertianum residencies to the public.

Besides the growth of the Tertianum group, we plan the expansion of our existing portfolio with third party operators in the areas assisted living, nursing homes, and retirement homes. Therefore, DPF AG is looking for suitable investment opportunities looking forward to receiving relevant offers. For further information see also our acquisition profile.

Investments – technology, service and innovations tp round off the topic „living in old age“

Living is more than built space. “Allest Investment” aims at individual solutions for age appropriate and quality living. Therefore, we are investing in service- and other innovative companies that distinguish themselves by progress in technology, service and marketing in the topic area “living in old age”. Our target is to create sustainable products.


„High growth
potential and
attractive returns
on investment“
forecast up to
2030 show that
the need for care
facilities will
continue to increase“
Chairman of the Board of Management

Felix von Braun, Engineer (Dipl.-Ing.)

Felix von Braun, graduate engineer and with more than 18 years of professional experience, active in the real estate and investment sectors.

Felix von Braun has extensive experience as a managing director, holder of special powers of attorney (Prokurist) and as a consultant, among others for Savills, the world’s third largest real estate services company with around 200 offices and 18,000 employees, a renowned project development company (with annual turnover of approx. 100 million euros) and for an investment of well-known finance investor George Soros (Soros fund with more than 1 billion euros equity capital).

Felix von Braun has managed corporate takeovers, has managed, optimised and sold large real estate portfolios as well as accompanying various German and international institutional investors in purchases and sales. Since 2010, as the sole shareholder and Chairman of the Board of the DPF Group, he has been in charge of the real estate and corporate strategy departments.

Member of the Board of Management

Dirk Stenger, business administrator (Dipl.-Kfm.)

Dirk Stenger, graduate business administrator and CPA (USA), has been providing consultancy and management services for more than 20 years to companies in the areas of finance, controlling, reporting, accounting, IT and law.

Following his initial years at PriceWaterhouseCoopers, he worked in various medium-sized corporate groups as “Group CFO”.

For the ELIXIA Group (65 health & spa clubs in 6 European countries, approx. 120 million euros turnover), Dirk Stenger managed the financial area and carried out numerous restructurings until the private equity portfolio company was sold successfully.

Dirk Stenger was also CFO in the POLIKUM Group, a private equity portfolio company active in the area of outpatient medicine. While working as a self-employed consultant, he joined the DPF Group in 2014. Since 2015, as member of the management board of DPF AG and managing director of the Tertianum Group, he has been in charge of the areas of finance and administration.

Supervisory Board

The Supervisory Board of DPF AG is made up of three experienced managers who, with their educational qualifications, career and professional experience, cover all fields that are relevant for the market segment: Real estate and finance, healthcare and corporate consultancy in asset and portfolio management.

Chairman of the Supervisory Board

Torsten Hollstein

Managing shareholder of CR Investment Management GmbH,; CR is a leading pan-European consultant, asset and investment manager.

Member of the Supervisory Board

Dr. Wolfram Otto

Managing shareholder of Promedio laboratory and genetics group, one of the market leaders in Germany in the area of outpatient medical care.

Member of the Supervisory Board

Ulrich Dunkelberg

For more than 20 years Ulrich Dunkelberg was working as an investment banker in Zurich, New York, and London for UBS, Morgan Stanley, Merryl Lynch, and Dresdner Kleinwort at first as a fixed income specialist and later in various European and global management functions.

Acquisition profile

DPF AG focusses its investing activities on nursing homes, assisted living, residential properties and hotels in inner-city locations of economically prospering areas. Apart from the acquisition of existing buildings we also purchase project developments of residential and nursing properties as part of our investment strategy.

Acquisition profile



Hackescher Markt 2-3
10178 Berlin

T +49 30 24 34 29 89 0
F +49 30 24 34 29 89 45

Contact us!

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Hackescher Markt 2-3
10178 Berlin

T +49 30 24 34 29 89 0
F +49 30 24 34 29 89 45

Company headquarters: Berlin
VAT-ID no. DE271205949
HRB 121 346 B
Local Court Charlottenburg

Management Board:
Felix von Braun (Vors.)
Dirk Stenger

Supervisory Board:
Thorsten Hollstein
Dr. Wolfram Otto
Marcellino Graf von Hoensbroech