Care Property expands Spanish portfolio with €10.2 million investment

SCHOTEN, BELGIUM: Care Property Invest signed the agreement under suspensory conditions for its fourth project on the Spanish market.

The project ‘Solimar Tavernes Blanques’ is a yet to be developed residential care centre in Tavernes Blanques, a suburb of Valencia. The project will be built by Vivalto Vie Spain S.L.U. (part of the Vivalto Group) and will accommodate 138 senior citizens upon completion, expected in Q4 of 2023.

The total investment value for the construction of this residential care centre is estimated to be approximately €10.2 million. For its operation, Care Property Invest will for the very first time enter into a partnership with healthcare operator Solimar (part of the Vivalto Group, a large European player in the operation of healthcare facilities).

This transaction is part of Care Property Invest’s strategic growth plan in this market.

Peter Van Heukelom, CEO of Care Property Invest; “Vivalto Group is the second major European healthcare operator with whom we have entered into a partnership in Spain in order to further develop our growth trajectory in this market. The solid basis of knowledge and experience they have gained by operating no less than 58 residential care centres in 4 countries, makes them an ideal partner to ontinue on this path. Including Solimar Tavernes Blanques, our real estate portfolio now comprises 132 committed projects.”

The new residential care centre will be built in Tavernes Blanques, a suburb of Valencia (Autonomous Community and Province of Valencia).

The building will have a total of 92 rooms, distributed over five floors (a basement, a ground floor and 3 upper floors). It will also have its own doctor’s practice, fitness and rehabilitation room, hairdresser’s salon and pedicure room, among other things.

The project will be operated by Solimar, a subsidiary of the Vivalto Group. Solimar is a local Valencian healthcare operator, currently operating 7 residential care centres in the region.

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *