Adriano Care buys a senior residence in Barcelona for €18M

Adriano Care buys a senior residence in Barcelona for €18M

Adriano Care is growing in Barcelona. The Azora-managed socimi specialising in investment in assets for the elderly has acquired a new senior living centre in the central Sagrada Familia district of Barcelona. This transaction brings Adriano closer to meeting its investment target of 250 million euros with a portfolio that already includes 23 assets.

The new centre purchased by the socimi for 18 million euros is the Domus Claret residence, with a surface area of 11,000 square metres above ground level and a capacity for 262 beds. Located in Barcelona's Ensanche district, in the famous Sagrada Familia neighbourhood, the residence is leased on a long-term basis to DomusVi, one of Spain's leading care home operators.

In addition to the outlay for its acquisition, Adriano Care is contemplating another investment to update the asset and adapt it to the current needs of the elderly with sustainability and energy efficiency criteria.

The socimi's portfolio is currently composed of approximately 81% traditional residences and 19% residential solutions in the emerging senior living segment. Among the operators to which the assets are leased for management are leading European companies such as Colisee, DomusVi, Amavir, Vivalto and Clece.

Javier Picón, partner at Azora, points out that "Adriano Care has positioned itself as one of the largest institutional owners in the sector and remains committed to meeting the growing need for housing solutions associated with an ageing society, adapted to the needs of our elderly, new real estate trends and with a commitment to sustainability".

Picón also highlights that with this new transaction, "the socimi is making progress in consolidating its portfolio with the aim of completing the investment committed in the coming months in compliance with its objectives".

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