The main strategy is the acquisition of senior residences from top operators under long term triple net contracts. In line with Azora’s identity, Adriano Care will focus on buying residences that have the potential to create added value by repositioning and refurbishing them, thus offering a higher quality product to its clients.
So far, Azora has analyzed investment opportunities upwards of 600 million euro and is in the closing stages of negotiating several opportunities which represent a total of 100 million euro.
The company follows the REIT regime and will be listed at the Spanish Alternative Stock Exchange (MAB).
«With this new vehicle we gain access to another real estate segment, remaining faithful to our essence of investing in mega-trends, hand in hand with top level financial institutions», highlights Concha Osácar founding partner at Azora.
«We are delighted at having agreed the management of Adriano Care with Azora to offer this opportunity to our client base supported by an obvious mega-trend, which has successfully helped to covered all equity available in record time, and where Indosuez has provided 70% of total equity through its clients», highlights Antonio Losada, Indosuez Wealth Management’s CEO in Spain.
Juan Antonio Roche, Product Director at Banca March, states: «Adriano Care constitutes one more step in our real economy investment experience, which we have been sharing with our clients since 2008».
Press Released by Azora