US investment firm Sphere Investments, specializing in social and healthcare real estate, has announced plans to invest €200 mln in Spain over the next two years.
The firm, which opened a Spanish office last September, will primarily target profitable assets in senior living residences, hospitals, healthcare centers, and student/employee housing near healthcare and science facilities. The firm is also exploring new project development and co-investment opportunities.
The company’s investment in Spain will be primarily funded by institutional investors and family offices, with anticipated contributions of 45% from Spain, 45% from Europe, and 10% from the US. The firm may also co-invest in projects, targeting a 4-6% annual return, and consider strategic corporate investments in the future.
Sphere Investments' Spanish operations are managed by Lee Mays, managing partner, who also serves on the company's board of directors and investment committee alongside Ernesto Villanueva and Germán Gimeno.
Sphere's goal in Spain is to collaborate directly with healthcare operators to solve challenges, support their development, and generate investment opportunities.
Lee Mays, managing partner of Sphere Investments in Spain, commented: ‘We seek to contribute in a tangible way to the well-being of patients, medical teams, workers, and residents of our properties. What sets us apart is a comprehensive and data-driven approach to investing in the healthcare sector.’
The company plans to purchase properties and lease them to operators, providing capital for expansion or liquidity.
Sphere Investments' strategy prioritizes optimizing existing assets initially, with new construction considered for the medium term. This approach capitalizes on the high demand and limited supply within the Spanish healthcare real estate market. This strategy is part of Sphere's broader European expansion plans into Germany, Italy, the UK, and Poland.
