Romano Senior acquires 11 care homes from the DomusVi Group for 92 million euros

• Romano Senior has acquired 11 assets in a Sale & Leaseback agreement, where DomusVi will continue to operate the care homes. The assets have a total surface area of 60.000 square metres and a total of 1,400 beds.
• Romano Senior is the new socimi recently established by Azora in collaboration with Banca March and Indosuez Wealth Management.
• The agreement with DomusVi includes a commitment to invest in its adaptation to the latest industry standards and sustainability criteria.

Madrid, 24 July, 2024. Romano Senior, the new socimi recently set up by Azora in collaboration with Banca March and Indosuez Wealth Management, has acquired 11 care homes, in Sale & Leaseback agreement, from the DomusVi group, the largest operator of care homes in the country.

The portfolio of assets acquired by Romano Senior consists of 11 homes for the elderly with a total of 1,400 beds located mainly in urban areas with a high population density and a great need for quality care homes. Four of the care homes are newly built in Seville, Gerona, Murcia and Vitoria, and the rest in Bilbao (Ribera, Miraflores, Arbidea and Aperribai), Galicia (Narón and Vigo) and Madrid.

The assets will continue to be operated by DomusVi, the leading operator in the Spanish market, under a long-term lease agreement. The agreement includes a commitment to invest in its adaptation to the latest standards in the sector, sustainability criteria and a major upgrade of the Ribera care home in Bilbao to position it as one of the best residences in the city.

With this transaction, Romano Senior, with a portfolio of 16 assets and 96.000 square metres, is one of the leading investors in real estate assets for the elderly, characterised by quality locations in urban areas, a high percentage of newly constructed buildings and long-term rental contracts with market-leading operators such as DomusVi, Colisee, Amavir and Emeis.

Javier Picón, partner at Azora, comments: "With Romano Senior we continue with our commitment to contribute to responding to the growing deficit of quality assets for the elderly in the face of the ageing population trend. This strategic commitment has resulted in an investment, between the different companies managed by Azora, of close to 500 million euros in assets in the senior category, making us one of the main players in the market".

The transaction was advised by Savills and Bird & Bird for DomusVi and Perez Llorca and Almar consulting for Romano Senior.