AXA IM Alts makes first investment into the Spanish healthcare market

AXA IM Alts has made its entry into the Spanish healthcare market, focusing on the development of best-in-class ESG-compliant care home assets. The debut investment, on behalf of clients, comprises the development of a healthcare complex in Zaragoza, Spain.

As part of AXA IM Alts’ longer-term strategy targeting the sector, the first investment will see the development of a 12,600-square-meter (135,600-square-foot) state-of-the-art health facility in Zaragoza, the capital of Spain's Aragon region, and will include 270 beds in total across a nursing home and mental health clinic, alongside a separate daycare center on site. 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 delivered in fourth quarter 2025 and has been pre-let on a long-term lease to Grupo Mimara, an experienced eld