Adriano Care, the first Spanish Socimi listed on BME Growth specialised exclusively on senior homes and managed by Azora, has committed more than €45m in the acquisition, repositioning and development of 6 senior living assets in the first five months of 2021. The acquired assets include 5 operational senior homes in 4 cities, in which improvement CAPEX is planned (Valencia, with 122 beds; León, 2 homes with 140 beds in total; and Lugo, with 191 beds) and a recently opened home in Terrassa, with 72 beds. All of them are operated by specialised operators. Additionally, land has been acquired for the development of a new 115-bed home in the north of Madrid.
These operations consolidate Adriano Care as one of the main owners of senior homes in Spain, with a portfolio of 14 assets (12 operating senior homes and 2 land plots where Adriano Care intends to develop two additional homes) and close to 1,800 beds. Adriano Care's strategy seeks a balanced geographical and operator diversification as well as a commitment to quality homes through an investment plan focused on developing new homes and updating existing ones.
The company plans to continue with its expansion plan, both in assets that are already in operation and in the purchase of land, for the construction of new homes which incorporate the latest sustainability trends and people-centred management models. To carry this out, and following the latest acquisitions, the company still retains more than €100m of investment capacity.
"The good progress of Adriano Care's investment strategy is the confirmation of our commitment to the senior living sector, in which we will continue to invest in high-quality products to respond to a real need of our seniors", highlights Concha Osacar, founding partner of Azora.