Swiss Life Asset Managers’ French arm is buying assets in France, Spain and Italy on behalf of SL REF LUX European Healthcare, its pan-European health fund.

The manager said the fund is buying a nursing home in Aranjuez, close to Madrid covering 12,000sqm with 251 residents, a 108 elderly care home apartment in Trélazé in France and has also agreed to buy a 128-unit senior care residence under construction in Milan.

Valérie Maréchal, head residential and care at Swiss Life Asset Managers France, said the acquisitions enable healthcare fund to diversify its strategy by combining regions in northern and southern Europe into highly sought-after quality assets.

The SL REF LUX European Healthcare fund, created in 2018, focuses on high-quality assets with a focus on nursing homes and seniors’ residences. Following the latest deals, the fund’s portfolio includes nine senior residences in France, 16 nursing homes in Germany, one undertaking for a senior residence in Italy and one nursing home in Spain.

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