Senior home asset investor Adriano Care has acquired two nursing homes in Spain for €35 mln.
Located in Santander and San Cugat del Vallés, the two high quality nursing homes have mandatory long-term rental contracts with Orpea and Amavir, respectively.
The Santander asset, in downtown Puerto Chico, has 118 beds, while the second is in Sant Cugat and has 180 beds.
Concha Osácar, founding partner of Azora, commented: ‘Adriano Care remains committed to addressing the growing need for housing solutions associated with an ageing population, adapted to the needs of our seniors and to new real estate trends. With these two new acquisitions, the REIT is making progress in consolidating its portfolio with the aim of completing its investment commitment in the coming months, in line with its objectives.’
In 2022, Adriano Care has made seven acquisitions worth over €100 mln and now owns 22 assets with 2,875 beds valued at over €235 mln, including pledged investment in new projects.
82% of the assets are traditional nursing homes and 18% are in the emerging senior living segment.
The assets are leased for management to leading European companies such as Colisee, DomusVi, Amavir, Orpea, Vivalto and Clece.
Managed by Azora and listed on the BME Growth, Adriano Care is a leading institutional owner in the senior housing sector in Spain.
