AXA IM Alts enters Italian care home market, buys 6-asset portfolio

AXA IM Alts has entered the Italian elderly care home market with the forward purchase, on behalf of clients, of a six-asset portfolio from a real estate investment fund managed by Namira SGR.

Numeria Servizi Generali Real Estate covered the role of vendor’s advisor and will continue to assist on this project during the construction and administrative phases for the delivery of best-in-class ESG compliant care home assets.

The six-asset portfolio is spread across the regions of Lombardy, Tuscany and Piedmont in Northern Italy and will total 1,440 beds upon completion. Two assets within the portfolio, located in the affluent provinces of Brescia and Milan, are due to be operational by early 2025, with the remaining assets anticipated to be operational by early 2026.

Each of the purpose-built assets will provide state-of-the-art modern care facilities with market-leading sustainability credentials, targeting at least BREEAM Very Good certifications. The well-co