Care Property buys a senior residence in Valencia for €10M

Care Property buys a senior residence in Valencia for €10M

Care Property Invest continues to expand its portfolio in Spain and has just acquired, for just over 10 million euros, a senior residence in Valencia, which has yet to be built.

The turnkey project will be carried out by Grupo Vivalto and managed by the Belgian fund, in partnership with Solimar, Vivalto's local healthcare operator. Its opening is scheduled for the first quarter of 2025.

The new residence will be built in the Valencian municipality of Tavernes Blanques and will have five floors (including a basement). It will have a total of 92 rooms and capacity for 138 residents. It will also have its own medical office, fitness and rehabilitation room, hairdressing salon and pedicure room, among others.

"Grupo Vivalto is the second major European healthcare operator with which we have established an alliance in Spain to continue developing our growth trajectory in this market. The solid base of knowledge and experience they have acquired by operating no less than 79 residential care centers in five countries, makes them an ideal partner to continue on this path. Including Solimar Tavernes Blanques, our real estate portfolio now comprises 134 projects," explains Peter Van Heukelom, CEO of Care Property Invest.

This acquisition, the sixth of Care Property in our country, is part of the company's strategic growth plan in the Spanish market, where it began operating in June 2020 with two residences located in Madrid and Móstoles, managed by Emera.

At the end of last year, it closed its third operation in the country: the purchase of the Emera Murcia residence for almost 11 million euros. And, in July of last year, it acquired the Forum Mare Nostrum residence for the elderly from the Goya Group, located in Alicante, for 35 million euros.

The company has developed an international portfolio of 129 health projects, distributed in Belgium, the Netherlands and Spain.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!