Orpea will build new senior residence in Alverca

Orpea will build new senior residence in Alverca

With 12.800 sqm, the terrain has already had a Preliminary Information Request approved for the construction of a Residential Structure for the Elderly (ERPI) with 6.614 sqm spread across four floors above the ground, with the capacity for 120 users. 

Rita Fortuna, Head of Development at Orpea in Portugal remarked that this future senior residence will be added to the other units Orpea already has in the country. She further added that the project is part of the company’s growth and job creation plans for the near future: «our role is relevant within society as a service that meets elderly people’s needs, as well as creating jobs».

Dina Raimundo, Partner and Real Estate Director at Finsolutia, which manages the winning company’s Portuguese assets, stated in a release that «the operation was part of the fund’s real estate asset sales strategy which, due to its diversity in terms of typologies, segments and geographies, lead us to a careful selection of external partners to whom, on behalf of the owner, we appointed its sale».

Cushman & Wakefield advised this deal on behalf of the seller. Ana Gomes, Partner and Development & Living Director at the company, commented: «we are very happy with this deal, since it shows senior residences’ international investors and operators’ willingness to invest in Portugal. Alverca is an important city within Lisbon’s metropolitan area which currently has more than 30.000 inhabitants, but still has a very reduced offer in terms of senior residences. This terrain has the ideal conditions for the development of a facility like this, both on account of the important community it will serve and of its excellent urban centrality which will allow future residents and their families to enjoy its facilities». 

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