Adriano Care joins forces with Colisée to promote 5 residences for €14.5M

Adriano Care joins forces with Colisée to promote 5 residences for €14.5M
El Saler senior residence, in Valencia

There are four operating centers (three of which are in Bilbao and one in Valencia), as well as a newly built residence in Madrid. In total, there are 564 places in three of the most active markets in the residential sector in Spain.

Adriano Care will retain ownership of the properties and will sign a long-term rental agreement with Colisée. In addition, he will invest in the improvement of the operational residences in Bilbao and Valencia, as well as in the development of the new residence to be built in Madrid. All of them will involve an investment, by the Socimi, of 14.5 million euros.

As Concha Osácar, Azora's founding partner, explains, "the agreement responds to Adriano Care's commitment to having a portfolio of first-rate assets to offer the best service with first-rate operators in the most attractive markets in our country."

For his part, the slim advisor of the Colisée Group in Spain, Gerard Sanfeliu, has valued "the strength of this alliance, the objective of which is to continue working on the specialization of the model and reaffirm our commitment in these territories", in which the international company has about 20 residences.

With a portfolio of 12 operative residences and almost 2,000 places to its credit, as well as three plots of land in Madrid in which it plans to develop three new projects, Adriano Care is one of the main players in the sector for the elderly in Spain. With a remaining investment capacity of close to 100 million euros, the Socimi plans to continue with its expansion plan, both in operating assets and in the purchase of land for the promotion of new residences that incorporate the latest trends in energy efficiency, sustainability and people-centered management models (ACP).

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