Demographic trend estimates indicate that the number of elderly people will rise by more than 50% by 2040. Population aging is already a fact and longer life expectancy is driving demand for a broad and high-quality housing offer. About 50,000 existing beds in nursing homes may become unusable due to this shift.
In November 2022 wellder emerged as a strategic response to these dynamics.
Wellder invests in nursing homes
As with Vivenio, which focused on the residential segment in 2017, Revenue Company and the Dutch firm CLOSED joined forces to form wellder. This new alliance operates as a specialized socimi focused on elderly housing and health centers for seniors, meeting the rising space needs in residences for the elderly. Wellder assets are positioned as high-quality housing solutions designed for senior welfare and aligned with current social reality.
What kind of buildings is Renta Corporacion seeking for Wellder?
Renta Corporación will exclusively manage this project, aiming to assemble a portfolio in the aged care segment that meets strict quality and ESG criteria. Wellder originated in Spain with the foresight to acquire aged-related real estate assets for a value of 250 million euros in its early stages, with plans to continue expanding. Investments will come from both the acquisition of existing centers and the development of new projects.
The company is targeting residential buildings for the elderly with the following criteria:
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Desirable size ranges from 4,000 to 7,000 m2, with living areas of about 45 to 50 m2 per unit and 80 to 150 beds per center.
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Preference for newer, modern structures.
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Locations in municipalities with more than 100,000 inhabitants and positive demographic trends, especially state capitals, with current undersupply addressed.
All comforts in sustainability criteria for nursing homes
Environmental stewardship, people-centric design, and energy efficiency are core principles for both Renta Corporacion and APG. This commitment translates into high standards for asset sustainability in both acquisition and construction.
Wellder seeks to build a portfolio of real estate assets exclusively in the senior care segment, emphasizing quality and ESG considerations while evaluating social impact as a guiding objective.
David Vila, CEO of Renta Corporación, emphasizes that Wellder’s model adds a social dimension ensuring asset quality in health, well being, and environmental respect. The planned buildings will meet the highest environmental and social standards and will pursue BREEAM certification. The centers will be modern in design with full comfort and attention to future trends. For new developments, at least 75% of beds will be in single rooms, and properties will include compact living units. This structure enables residents to maintain independence while enjoying a sense of community.
A residence for the elderly in Burgos, the first successful investment
Revenue Company, a real estate player, creates added value by acquiring and rehabilitating buildings in Barcelona and Madrid for later sale to third parties, expanding with this alliance alongside APG. This marks the first successful investment in the SOCIMI partnership with a 7.5 million euro plan for purchasing and remodeling the DomusVi Rio Vena residence for the elderly in Burgos. This residence, built in 2009 near the historic center and surrounded by parks and medical centers, offers 98 living spaces and a 4,500 square meter footprint with large common areas and a cinema room for residents. The initial investment signals Wellder’s growth trajectory with plans to continue expanding and pursuing a public listing within roughly two years. This represents an opportunity to capitalize on a real estate asset.