Swiss Life Asset Managers France has acquired several healthcare assets in Spain, France and Italy for an undisclosed amount.
Located near Madrid, the Spanish asset is a former royal palace that was converted into a Catholic seminary before taking its current form as a rest home. Renovation work is currently being carried out on the 12,000-square-meter (129,166-square-foot) building, which houses 251 residents.
The French asset is located in the city center of Trelaze and consists of 108 apartments. The property features nurses and care assistants, which is rare in the French operator model, according to Swiss Life.
The company says it has also agreed to build a senior service residence in Milan. It will include 128 housing units and will be delivered in 2023.
“These acquisitions enable the fund to diversify its strategy by combining regions in the north and south of Europe, on highly sought-after quality assets,” said Valerie Marechal, director of th