Healthcare Activos, Spain’s leading health-focused property investment platform, has established a joint venture with Altamar Capital Partners to invest in nursing homes, clinics and hospitals.
The newly established JV vehicle, Healthcare Activos Yield, has a portfolio of 20 income-producing seed assets leased under a long-term basis to top-tier European operators. Altamar has completed an initial investment of over €250 million sourced from institutional investors, and family offices such as Nortia Capital. ALTAMAR will have an active role in the management of Healthcare Activos Yield.
The Spanish real estate healthcare sector has a total investment volume close to €20 billion and is expected to grow at an annual pace of approximately 3% over the next 15 years. Fueled by attractive fundamentals, the senior living & healthcare sector is expected to continue growing with low risks, specially given the ageing demographic trends in Spain and the competitive structure of the market.
According to Jorge Guarner, Chairman of Healthcare Activos, “This joint venture with Altamar is the consolidation of a project that started three years ago and allows us to maintain our growth path, following the marked road-map. In addition, we both have the same long-term investment approach, which is one of the keys to success in this sector”.
According to Fernando Olaso, Partner at Altamar, “Healthcare Activos Yield is a unique long-term real estate investment opportunity within the healthcare industry, with handpicked assets, long-term stable leases with top-tier operators, generating returns for the shareholders since the beginning via dividends. Investing in Healthcare Activos Yield gives us the opportunity to join Jorge Guarner as Chairman and Albert Fernandez as CEO, together with Healthcare Activos, a best in class team within the European sector”.
The transaction has been advised by PJT Partners, Garrigues, Herbert Smith y Deloitte on the vendor’s side, and by Altamar Advisory Partners, Freshfields and KPMG on the buyer’s side. The transaction has been financed by Natixis.
About Healthcare Activos
Healthcare Activos is the leading Iberian firm in long-term investment and management of real estate assets in the health sector (including nursing homes, hospitals and clinics), having invested over €330 million YTD. Founded in 2016 by Jorge Guarner, the firm’s President, is a professional with a broad and successful career in the social health sector in Spain. In 2018 Albert Fernández joined as Associate and CEO (non-executive adviser and shareholder from the beginning). Prior to joining Healthcare Activos, Albert was responsible for the European health sector at PJT. Healthcare Activos has offices in Madrid and Barcelona, and has a team of 16 professionals, each specialized in the critical areas to create value on a long-term basis.
About Altamar Capital Partners
Altamar Capital Partners is an independent financial services group whose main objective is to provide institutional investors -including insurance companies and pension funds- as well as private high net worth individuals, efficient access to alternative investments: private equity (primary, secondary and co-investments), venture capital, life sciences, real assets (real estate and infrastructure) and private debt / credit, through the best international managers. Also, through its subsidiary Altamar Advisory Partners, it provides independent financial advice and merchant banking in M&A, IPOs as well as financing and debt restructuring. ALTAMAR also offers, through its subsidiary Altamar Global Investments AV, direct access to funds from the best managers worldwide in the areas of Private Debt and Absolute Return, as well as in certain areas in the traditional Long Only segment.
With over 160 employees and offices in Madrid, Barcelona, New York, Santiago de Chile and presence in Taipei, ALTAMAR currently has approximately €6.7 billion of historic committed capital.