Swiss Life AM purchased senior residence in Madrid

Swiss Life AM purchased senior residence in Madrid

This is the first transaction carried out by the Swiss insurer’s fund in Spain, revealed consultant Savills Aguirre Newman, which took part on this operation on behalf of the Swiss company. The seller was advised by Altum Faithful Investing.

The senior residence is located at Paseo del Deleite de Aranjuez, it has a built area of 9.900 sqm and it offers 251 beds. It is operated by DomusVi through a long-term leasing contract.

In a release, Nuria Béjar, National Director of the Healthcare Department at Savills Aguirre Newman, remarked the interest in the evolution of the senior real estate market, explaining that «we are seriously committed to incorporate professionalisation and innovation within the development of infrastructure for senior citizens».

This fund from Swiss Life has under its sights «high-quality European assets located in strategic locations with long-term leases», it can be read in the release. Thus, this acquisition highlighted «the real estate sector’s interest in the Spanish senior real estate market».

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