Healthcare Activos Closes 2018 with Purchases in Ciudad Real, Murcia & Madrid

8 January 2019 – Eje Prime

Healthcare Activos closed 2018 by adding some new real estate assets to its portfolio. The investment fund led by the former CEO of the residential group Sarquavitae, Jorge Guarner, ended the year by making acquisitions in Ciudad Real, Murcia and Madrid.

The company closed the purchase of the Las Cármenes residence, located in the town of Poblete, in Castilla-La Mancha, which has a surface area of 6,161 m2 and 201 beds available. Similarly, the investment platform specialising in the health and dependency sector also purchased the San Pablo de Ceutí Residence (Murcia), with a surface area of 6,785 m2 and 172 beds.

After its purchases in Ciudad Real and Murcia, Healthcare Activos also bought the MiraMadrid residence, located in the town of Paracuellos de Jarama. That centre has a surface area of 6,221 m2 and 170 beds distributed over three floors.

In parallel, Healthcare Activos has also started work on the renovation of the El Carmen residential centre, located in Baracaldo (País Vasco). That property, which has 70 beds and a surface area of 2,650 m2, will be operational from 2020, as will the Amézola residence, located in Bilbao.

Since its creation at the end of 2016, the firm has acquired more than twenty assets, with a total committed investment of approximately €200 million. It now has a portfolio comprising more than 40 assets in different stages of development including nursing homes for the elderly, hospitals and clinics, some of which are fully operational, others of which are to be renovated and launched and others of which are land development projects.

First incursion into the hospital and office sectors in Madrid  

In October, Healthcare Activos entered the hospital sector in Spain with the acquisition of Hospital Campo de Gibraltar in Palmones (Cádiz) from the Quirón group. The property has a surface area of 12,300 m2 and the plan is to expand the facilities to reach 120 beds in total.

Also, during the second half of the year, the company conquered the centre of Madrid with the opening of a commercial office on Paseo de la Castellana. That property, which is located at number 45, will respond to the expansion plans that the company is preparing for the country as a whole. The facility joins the central offices that the group has on Calle Pau Casals in Barcelona.

To carry out new plans, Healthcare Activos has recruited a new financial director (…). Guarner’s firm has appointed Juan Pedro Vergara as the new person responsible for that area.

Vergara has developed his professional career in the financial entity Natixis, a company created in 2006 (…).

Original story: Eje Prime (by Alberto Escobar)

Translation: Carmel Drake

Healthcare Activos: Jorge Guarner’s Investment Vehicle Continues its Spending Spree

8 October 2018 – Eje Prime

Jorge Guarner (pictured below), formerly the head of Sarquavitae, is raising his commitment to the purchase of healthcare real estate assets. Healthcare Activos, the investment fund that he manages, has an ambitious plan underway to compete with other residential care operators in the sector. The firm expects to conclude the year with more than 22 assets in its portfolio and will exceed the investment barrier of €205 million.

Last week, Healthcare Activos entered the Spanish hospital sector with the acquisition of Hospital Campo de Gibraltar in Palmones (Cadiz) from the Quirón group. In this way, it closed the purchase of its 18th asset in Spain.

In a statement to PlantaDoce, Guarner said, “the company’s objective is to exceed 22 assets this year”, whilst noting that, for the time being, “none of its purchases are going to be conducted beyond the Iberian Peninsula”. To date, Healthcare Activos has invested almost €110 million this year. Looking ahead to 2019, the firm will invest another €200 million.

Two weeks earlier, the company conquered the centre of Madrid with the opening of a commercial office on Paseo de la Castellana. That site, which is located at number 45, will respond to the expansion plans that the company is preparing for the whole of the domestic territory. The facility comes in addition to the central offices that the group has on Calle Pau Casals in Barcelona.

The next steps for Guarner’s company involve two projects in Cataluña. Healthcare Activos has already started to renovate two residential centres, one located in Cerdanyola del Vallès and the other in Igualada. Both will be fully operational as of next year.

After the Catalan centres, the company is going to launch the Amézola residence, during the second half of 2020, with capacity for 140 beds and with a surface area of 8,315 m2, which will be located in Bilbao.

Healthcare Activos has scheduled its debut on the stock market for 2020. The investment arm of the former Sarquavitae CEO plans to debut on the Alternative Investment Market (MAB) within two years (…).

In the words of Guarner, the sector for the care of the elderly has a lot of potential in Spain. “We need to focus on people aged over 85 years because 15% of them are having to be admitted to hospital or specialised care centres”, recognises the CEO of Healthcare Activos.

Original story: Eje Prime (by Alberto Escobar)

Translation: Carmel Drake

Resa’s Former CEO Creates 12 Investment Vehicles & Finalises the Purchase of Land for Tertiary Use

27 June 2018 – Eje Prime

Jorge Guarner (pictured below) used to be the boss of the student hall sector in Spain and now he is looking to do the same in the nursing home sector. The director, formerly the CEO of Resa from 1996 to 2002, is guiding the path of Healthcare Activos, a real estate asset manager operating in the healthcare segment, which is pushing ahead with financial support from the fund Oaktree and one aim: to debut on the stock market in 2020. In its process of becoming a Socimi, the company is going to create twelve vehicles to purchase tertiary land throughout Spain.

During the first half of the year, the company has constituted the seventh and eighth of its series of vehicles, whose aim is “the performance, both in Spain and overseas, of property development and construction activities for all kinds of real estate developments, urban planning and land development projects, be they for industrial, commercial or residential purposes”, as noted yesterday in the Official Gazette of the Mercantile Registry (Borme).

Guarner, as the sole representative of the company, has created the companies with the minimum required share capital (€3,000) and he has domiciled them all at the manager’s Madrilenian headquarters, number 26 Calle Raimundo Fernández Villaverde.

Over the next two years, until it debuts on the stock market, a priori, on the Alternative Investment Market (MAB), Healthcare Activos plans to invest almost €500 million in properties in Spain, primarily in nursing homes for the elderly.

The group’s first investment came in December 2016, when Guarner’s firm purchased four buildings that are today leased to the nursing home operator Amavir. Since the first acquisition to date, the group has invested €107 million in eleven assets, of which €62 million were disbursed in 2017 and the remaining €45 million have been spent since 1 January 2018.

The future Socimi also has €14 million committed for the creation of a portfolio of more than forty properties, in different degrees of progress, such as nursing homes, hospitals and clinics, be they fully operational, ready for renovation and launch, or as land development projects.

Guarnar has funds to invest up to €150 million per year until 2021 in the acquisition of assets and development of new nursing homes for the elderly across the country. The latest operation that the manager carried out was the purchase, a month ago, of a property in Vitoria from the specialist operator Abertia-Etxea, for which it paid €5 million.

In addition, in April, Healthcare Activos spent €40 million on three nursing homes in Gijón, Burgos and Valladolid. For that project, the company joined forces with La Saleta Care, owner of the buildings until then, which will continue to manage the properties for the next 25 years.

Guarnar, who was also the CEO of Sarquavitae for twelve years, the main Spanish company in the nursing home sector, has his company central headquarters in Barcelona, where last summer, he invested €15.5 million in the purchase of the Los Tilos nursing home (…).

Original story: Eje Prime (by Jabier Izquierdo)

Translation: Carmel Drake

Healthcare Activos Acquires 3 Nursing Homes for €40M

7 February 2018 – Eje Prime

The assets in question are located in Gijón, Burgos and Valladolid. For this operation, the group has teamed up with La Saleta Care, which will manage the nursing homes for the next 25 years.

Healthcare Activos is continuing to expand its portfolio of investments in Spain. The fund’s latest operation has involved the purchase of three nursing homes for the elderly in Gijón, Burgos and Valladolid, for which it has paid €40 million. With this disbursement, the fund has now invested €102 million since it started operating in 2016.

To date, Healthcare’s new assets were owned by Baugestión, a group that has now been integrated into La Saleta Care. To seal the operation, the company has teamed up with that Valencian group, which has signed a contract to be the tenant of the three nursing homes for the next 25 years.

This portfolio of alternative assets spans a surface area of 22,000 m2 and operates in a market that has recorded a significant increase over the last year. Nevertheless, these kinds of residential properties, be they for the elderly or for university students, are attracting a great deal of interest, primarily from international funds.

Under the leadership of Jorge Guarner, its founder and CEO, and Oaktree, Healthcare Activos now owns a portfolio that has reached a dozen assets in just two years. Headquartered in Barcelona, the fund started to acquire properties in 2016 with three centres in Amma, for which it paid €25 million. A few months later, it added two assets in Logroño and one in Barcelona, for which it paid €16 million.

Healthcare Activos’ plans for 2018 include investing €150 million during the course of the year to reach a size of €450 million over the next few years. All of this, without leaving the domestic market, for the time being.

Original story: Eje Prime 

Translation: Carmel Drake

Healthcare Activos Buys Nursing Home In Barcelona

2 August 2017 – Expansión 

Healthcare Activos is pushing ahead with the construction of a portfolio of buildings to be used as hospitals and nursing homes for the elderly. The investment vehicle led by Jorge Guarner (pictured above) – former CEO at SARquavitae– and Oaktree Capital has just acquired a nursing home in Barcelona for €16 million, which until now belonged to a Goldman Sachs fund.

It is the Los Tilos nursing home, located in the neighbourhood of Gracia, and it has a surface area of 16,000 m2 – 7,000 m2 allocated to parking – and 258 beds. The facilities, located in a very sought-after area, are managed by Grupo Bastón de Oro and residents pay between €2,200 and €2,500 per month to live there.

Financing

Healthcare Activos has financed 60% of the operation through a loan granted by CaixaBank. The nursing home formed part of a package of assets that Goldman Sachs purchased at the beginning of 2015, through B Capital Partners, from the Barcelona-based property developer La Llave de Oro, in a deal worth €90 million that included 18 buildings. The fund owned by Guarner and Oaktree has invested €62 million since December on the purchase of seven healthcare assets, containing 1,263 beds, across Spain.

Original story: Expansión (by S. Saborit)

Translation: Carmel Drake