Cofinimmo buys a senior residence in Madrid for €12M

Cofinimmo buys a senior residence in Madrid for €12M

The socimi will acquire 100% of the shares of the company that is currently developing a residence for the elderly and dependents in Legazpi, Madrid. The investment amounts to twelve million euros. The residence is pre-let to Emera Spain.

The new residence is located in Legazpi, a neighborhood in the district of Arganzuela. The building will have a total area of 4,300 square meters, with capacity for 113 seats, according to Cofinimmo in a statement.

The works began in May 2021, as part of a turnkey project, and the delivery of the residence is currently planned for the fourth quarter of 2022. At that time, the purchase price will be paid and the lease will begin.

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