Adriano Care, Spanish executive Azora’s investment vehicle for nursing homes, has completed a new asset acquisition in Barcelona. about this housing DomusVi ClaretIt has a capacity of 262 beds. This property is located at 200 Calle Sant Antoni Maria Claret, a few minutes’ walk from the Sagrada Familia and Avenida Diagonal.
Manager’s investment vehicle founded by Fernando Gumuzio and Concha Osácar paid 18 million euros for the asset, without the need to access finance; As reported to the regulator, it “plans to invest in updating the asset to adapt it to the current needs of seniors with sustainability and energy efficiency criteria”.
According to the official website of DomusVi, the operator of the facility; the residence has a day centerIn addition to specialized services such as Alzheimer’s treatment or rehabilitation after stroke, cardiovascular accident or surgery. There are also gerontological care services for both permanent and temporary stays.
The common areas of the residence include terraces, gym, medical consultation, treatment room, hairdresser, chapel, living rooms and library. All rooms have a medical alarm, telephone, television and private bathroom..
What is Adriano Care?
Adriano Care is a Socimi (Registered Real Estate Investment Company) specializing in residences for the elderly. It is one of the investment vehicles managed by Azora and is among others Previsión Mutua de Aparejadores y Arquitectos Técnicos, Musaat Mutua de Seguros or family office Pedro Alcaraz, founder of Goldcar car rental company.
At the end of 2022, Adriano Care had 22 residences, 19 of which were operational and 3 were under construction.Added 2,875 places. Since the foundation of this fund, partners have invested close to 230 million euros in the acquisition of assets spread across the Iberian Peninsula: La Coruña, Palencia, Bilbao, Zamora, Madrid, Valencia, Lugo, Terrassa, León, Vigo, Alicante, Santander and Barcelona.
Socimi recorded a rental income of 10.9 million euros last year, with a net profit of 4.4 million. One of the company’s milestones in 2023 Distributing its first dividend of 2.4 million after its IPO in 2021.
Imbalance between supply and demand
In recent years, many national and international investment funds have come to Spain to invest in nursing homes. Because? Due to the large imbalance between supply and demand existing in the market. The World Health Organization (WHO) recommends 5 beds for every 100 people over the age of 65.. In Spain, this ratio is 4.6, which is lower than in other countries in the European Union.
According to a report by consulting firm JLL, Our country needs to build 13,700 parking spaces between 2022 and 2025. to maintain its current 4.6 rate, but by 2035 it will need to put 120,000 parking spaces into service if it wants to.
Although there are no exact figures for 2022, in the first nine months of the year, registered investment amounted to 389 million eurosMuch lower than in the same period of 2021. This was due to the stance of mutual funds and the increase in financing costs after the interest rate hike.