Axa IM Alts makes Spanish healthcare debut in Zaragosa

AXA IM Alts has made its first investment into the Spanish healthcare market. The debut investment, on behalf of clients, comprises the development of a healthcare complex in Zaragoza, Spain.

The planned project (CGI pictured above) will create a 12,600 sq m state-of-the-art health facility in Zaragoza, which is the capital of Spain’s Aragon region. The asset will comprise 270-beds in total across a nursing home and mental health clinic, alongside a separate daycare centre.

Grupo Lar has been retained as developer and will also support in sourcing suitable land for further opportunities, as well as pre-leasing approved schemes to leading operators and managing the completed developments.

The asset is due to be completed in Q4 2025 and has been pre-let on a long-term lease to elderly care home operator Grupo Mimara.

Axa IM Alts said it aims to build a Spanish healthcare portfolio, responding to a clear gap in the market.

“The healthcare asset class in Spain is highly fragmented with low volumes of institutional participation and acute undersupply. We see an opportunity for AXA IM Alts to leverage its track record in the sector to become a leading investor in this market,” said Esther Escapa, head of transactions and development Iberia at AXA IM Alts.

Author: Paul Strohm

Source: Real Asset Insight