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

A Private Healthcare Tycoon Buys Can Oleza for €10 Million

19 August 2018

The Asturian millionaire and developer Víctor Madera finalised the transaction last month, returning the property to Spanish hands. Madera is acquiring ruined palaces and castles throughout the country and already owns six estates in Menorca.

The historic manor in Palma Can Oleza is changing hands. Moreover, it is doing so for millions of euros. The Spanish private healthcare magnate Víctor Madera, the Quirón Group’s non-executive president for hospitals, has acquired the property for approximately 10 million euros, as El Mundo/El Día de Baleares learned from sources familiar with the operation. The purchase agreement was finalised at the beginning of July in the Balearic capital and constitutes the acquisition of one of the last of the city’s iconic buildings.

Secrecy has been high for one of the year’s most important real estate transactions in the Balearic Islands. Negotiations were conducted very discretely, and the transaction has returned the ownership of Palma to Spanish hands after it was acquired by Swedish investors in 2013. At the time, those investors paid about six million for the property and have now sold it for a 50% markup, a fairly good return on their investment.

Sources in the premium Mallorcan real estate sector were not surprised. Mr Madera has been acquiring ruined palaces and castles throughout Spain in recent months. The Baleares were not left out of his investment strategy. Last spring brought the news that the wealthy entrepreneur and developer from Oviedo had acquired six important estates in Menorca in the last year.

Now it seems like it is Mallorca’s turn. Can Oleza, foreign-owned since 2013, when it was sold to a Swedish investor by the Oleza family, which had owned the manor since the seventeenth century – is located on Morey Street and was declared a Historic-Artistic Monument in 1973. It received development protections when it was declared to be an Asset of Cultural Interest (BIC) and received additional protections from Patrimonio three years later.

Thus, the movable assets, which are also of great value, also benefited from the measure, since they have remained largely intact to date. The modification by Patrimonio affected the decoration of the building’s main rooms, which enjoy special protection. The reason for this is simple. Can Oleza was declared a national monument, obliging authorities to grant the maximum level of protection to the property.

What has not been revealed, at least so far, are the Asturian developer’s intentions for the property. Some sources referred to the possibility of developing a high-end boutique hotel on the site, although the current regulations would make that difficult.

What is known is that Víctor Madera has been attempting to restore the forgotten jewels of Spanish architecture. His passion for rebuilding ruined palaces has a long history and has been a well-known fact for years in Asturias. People there first began hearing about Paisajes Asturias S.L. (Asturian Landscapes), one of Madera’s real estate companies. With a social capital of 53.69 million euros, it is specialised in rescuing ruined, iconic buildings and converting them into hotels.

Original Story: El Mundo – Hugo Sáenz

Photo: Jordi Avellà

Translation: Richard Turner