Mapfre sells €50M care home portfolio to Healthcare Activos

Healthcare Activos Yield has purchased five care homes from Mapfre in Madrid, San Sebastián, Palma de Mallorca, Oviedo and Santiago, valued at c. €50 million.

The investment vehicle created in August 2019 by Healthcare Activos and Altamar Capital Partners has implemented this acquisition through the purchase of 100% of the company Maquavit Inmuebles from the insurer, according to a statement.

The portfolio is leased to DomusVi under guaranteed long-term lease contracts and has about 800 beds and 150-day center places, which allows Healthcare Activos Yield to reach a valuation of c. €365 million with 32 operating assets leased to European operators.

According to the founder & president of Healthcare Activos, Jorge Guarner «Maquavit’s portfolio of residences is fully in line with our focus on high-quality assets, sectored and with coexistence units, which represent the residence of the future at a European level. Furthermore, these assets enjoy exceptional locations within their urban centers «

For his part, the CEO, Albert Fernández, adds that, after the purchase of the Virgen de la Caridad Medical Center hospital, the Albacete residence rented to Emera, the listing on Euronext and this transaction, the firm is complying with the plan to which they committed to their investors at the beginning of the project.