Foncière Siscare Acquires Three Senior Citizens’ Residences for €40 Million

28 October 2019 The French firm Foncière Siscare has acquired three senior citizens’ residences, two in Spain and one in Italy, for a total of 40 million euros.

The acquisition follows the firm’s strategy of consolidating its position in the Spanish healthcare market. Foncière Siscare acquires assets in conjunction with outside investors, concentrating on operations, while the real estate partner invests in the long-term repositioning of the asset.

Original Story: Eje Prime

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


Analysts See Potential Goldmine in Residences for Senior Citizens

4 September 2019

The world is ageing at a rapid pace as life expectancy increases, and birth rates decline. According to data from the WHO, the world’s population of people over 60 years of age will nearly double between 2015 and 2020. That fact, which may lead to a demographic crisis in large parts of the world, can be a boon to nice real estate operators.

Demand for beds in residences for senior citizens is growing inexorably, while supply remains tight. The WHO believes that the optimal number of beds in geriatric residences should account for  5% of the total population of senior citizens. Neither Europe as a whole nor Spain are anywhere near that figure.

Market analysts forecast that the principal actors in the sector could see their net earnings increase by 20% on average by 2020, compared to this year. In the year to date, European and American companies in the sector have seen their shares appreciate by 13%.

Original Story: – Letizia Aragüés Cortés

Photo: Getty

Adaptation/Translation: Richard D. K. Turner

CVC and Portobello to Invest €141 Million in Vitalia

20 August 2019

CVC and Portobello are planning to invest €141 million over the next four years in Vitalia, a firm that builds and manages geriatric centres. The firm plans on building a portfolio of 10,000 beds, becoming the second-largest operator in Spain, behind Sarquavitae (owned by DomusVi).

Vitalia will build 19 new residences in Madrid, Catalonia, Castilla y León, the Valencian Community and Murcia. The investments will add another 3,175 residential beds and 536 daycare places to the Vitalia’s existing portfolio.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Investors Seek Returns in Alternative Investments Such as Data Centres and Parking Facilities

25 July 2019 – Richard D. K. Turner

Investors are increasingly looking to alternative investments to boost their returns, as segments of the real estate market near maturity. Investments in the sector, which includes co-working and co-living, student residences, data centres and parking facilities, among others, grew by 8.4% in 2018.

Large firms have been looking at new uses for existing assets, such as using parking facilities as small-scale, last-mile logistics platforms in large city centres. Data centres have also been a focus of investment activity. Forecasters predict that the need for information storage in Spain is to increase significantly in the coming years.

Investors have also taken a closer look at investments in medical centres and geriatric residences, boosted by ageing populations around the globe. In Spain, Azora recently partnered with Banca March and Indosuez Wealth Management to create a healthcare-focused socimi with an investment capacity of 250 million euros.

Original Story: Eje Prime – M. C. P.

DomusVi Acquires 100% of Residencias Nostem from Talde and Cycasa

20 July 2019 – Richard D. K. Turner

The French geriatric residence and services provider DomusVi acquired 90% of the Basque company Residencias Nostem from Talde and the Basque construction company Cycasa Construcciones. Domusvi already owned the other 10%, stemming from its acquisition of Casta Salud in 2017.

The acquisition will give Domusvi control over a total of 1,200 beds in the Basque Country. The two geriatrics centres are located in Vizcaínas de Arrigorriaga (Arandia, with 132 beds and 30 day-time stays) and Balmaseda (Las Laceras, with 88 residential stays and 35 day-time stays).

Original Story: Alimarket