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Azora bets €76M on senior housing
22 November 2019 | Vanessa Sousa

Azora, through its newly created REIT Adriano Care, should invest 76 million euro, mainly in developing 6 senior housing projects in Spain. In total, these projects will offer 750 units.

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Bilbao (4), Coruña (1) and Palencia (1) were the Spanish municipalities chosen by Azora to develop these projects. These choices were not made by chance, since these cities are considered «high quality geographical areas with great demand», besides being regions which have «a higher life expectancy and administrations which bet on excellence», according to Concha Óscar, founding partner at the asset management company, in a release to which daily newspaper Eje Prime had access.

Madrid too is a city that meets these requirements from Azora and the company should buy a terrain to build new residences of this type in there. A parcel of the amount invested in these projects, will therefore be allocated to this one in Madrid.

Azora created the REIT Adriano Care last June and allocated 250 million euro to it, to invest in this real estate segment.