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alternative Assets News: Spanish Real Estate Intelligence

Xior Acquires Student Residence and Plot of Land for New One in Madrid
17 September 2019 The Belgian group Xior Student Housing announced an agreement to acquire 80% of the real estate company that owns and operates the Leonardo da Vinci student residence, located on the campus of the European University of Madrid (UEM), in Madrid. The firm will also build a second, 200-bed residence in a total investment of €85.4 million. The European University group will hold onto the remaining 20%. The first campus property has 464 rooms (528 beds) and belongs to the second-largest private university group in Spain, one which has more than 23,500 enrolled students, 11,500 of which are housed in the Villaviciosa campus. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner
 
Banca March & Crédit Agricole Create Adriano Care to Invest in Geriatric Homes
17 September 2019 Banca March and Crédit Agricole have agreed to a joint venture, incorporating a socimi dubbed Adriano Care. The socimi, which will focus its investments in the growing market for residences for senior citizens, will have an investment capacity of about 250 million euros, according to market sources. Private equity funds controlled by the two banks are funding the socimi, which Azora will manage. Adriano Care intends to acquire geriatric residences and other services for senior citizens. The sector is currently in vogue, offering relatively high yields compared to other types of assets, such as offices while providing stable, long-term income flows. Original Story: La Información - Lucía Gómez Adaptation/Translation: Richard D. K. Turner  
 
Altamar and Healthcare Join to Create Healthcare Activos Yield
10 September 2019- Healthcare Activos, which specialises in investing in the healthcare real estate assets, and Altamar have joined to create Healthcare Activos Yield. The vehicle, which will invest in the Iberian Peninsula, has 20 assets in its portfolio, all of which are leased long-term to European operators, and an initial investment of more than €250 million. Healthcare Activos Yield intends to grow its portfolio by acquiring additional assets. Healthcare-based real estate assets in Spain are currently worth approximately €20 billion. Market sources forecast growth of around 3% per year over the next 15 years. Original Story: Expansión Adaptation/Translation: Richard D. K. Turner