ASG Homes and Caser Residencial have entered into a strategic alliance to launch Olife Living & Share, a new senior living operator in Spain. This new entity will manage rental housing for seniors, especially on the Mediterranean coast, and plans to manage around 700 residential flats in the coming years with an investment of more than €200 million.
Within the framework of this agreement, ASG Homes will be responsible for the asset management, marketing and commercialisation of the projects, while Caser Residencial will be responsible for the facility management and the management of the homes and common services. ASG Homes is currently evaluating and negotiating assets to promote housing developments for the senior public.
According to the companies, its commitment comes from the increasing life expectancy and other demographic changes that have driven the demand for new housing models for seniors, positioning Olife as a proposal with high growth potential in the Spanish real estate sector. Olife promises to offer prime locations, high quality and comprehensive services.
Víctor Pérez Arias, CEO of ASG Homes, commented: "We have been analysing opportunities in the Senior Living segment for some time now, looking for the optimal strategy for ASG Homes to actively contribute to its development. We are very pleased with this agreement that we are announcing today, which concludes in an alliance with Caser Residencial, the best possible partner due to its capacity, experience and business vision. Creating this operator makes us the first developer-investor in Spain to integrate the entire value chain, giving the company a great competitive and operational advantage".
Mario Abajo, Caser's Director of Services, said: "Our participation in Olife is a further step in our strategy aimed at meeting the new needs of society with high levels of quality and efficiency, specifically, in this case, those of people over 50 years of age. We do it hand in hand with ASG Homes, betting again on an excellent product, both architecturally and in everything that has to do with the care of people".
