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Thursday, February 2, 2023
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Osborne Clarke advises Care Property Invest on acquisition of “Marina del Port”

Osborne Clarke has counselled Care Property Invest on its acquisition of “Marina Del Port”, a land and an existing building to develop a residential care centre in Barcelona

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Care Property Invest has acquired “Marina Del Port”, an existing project, to have it redeveloped into a residential care centre. The project has a total investment value of approximately €7 million and will accommodate 78 residents upon completion.

The land and the existing building of this project were acquired by the company by means of an asset deal, after which the building will be fully future-proofed according to the latest sustainability standards by the developer, La Vostra Llar la Marina S.L. The redevelopment will be financed in instalments by Care Property Invest, depending on the progress of the construction works, which should be completed in May 2024.

For the operation, Care Property Invest will enter into a partnership with La Vostra Llar for the first time. This local healthcare operator from Barcelona has more than 30 years of experience in operating and developing residential care centres. This transaction is part of Care Property Invest’s strategic growth plan in this market.

Peter Van Heukelom, CEO of Care Property Invest, stated: “With the acquisition of this residential care centre, our team continues to work on the expansion of our Spanish healthcare property portfolio. It is the first time in this market that we are redeveloping an existing building into a state-of-the-art residential care centre. We are looking forward to joining forces with La Vostra Llar for the first time and to continuing this cooperation in the future.”

Osborne Clarke’s team assisting Care Property Invest with this transaction was led by partner Julián Matos and supported by lawyers Ariadna Argente and Carlos Casacuberta.

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