Care Property Invest has finalised the acquisition of ‘Solimar Elche’, a yet-to-be-
developed residential care centre in Elche (Autonomous Community of Valencia). The project will be built by Obras Especiales S.A (Obenasa). Upon completion, expected in Q2 of 2025 at the latest, the building will accommodate 148 senior citizens.
The company acquired the land of this project on which Obras Especiales S.A (Obenasa) will shortly build the residential care centre. The construction works will be financed in instalments by Care Property Invest, depending on the progress of the works.
The project will be operated by Solimar, a subsidiary of the Vivalto Group. Solimar is a local Valencian healthcare operator, currently operating 7 residential care centres in the region.
The total investment value for the construction of this residential care centre is estimated to be approximately €10.8 million. Care Property Invest is entering into its second operational partnership with Solimar, part of the Vivalto Group, a large European
player in the operation of healthcare facilities. This transaction is part of Care Property Invest’s strategic growth plan on the Spanish market.
Peter Van Heukelom, CEO of Care Property Invest, said: ‘With the construction of this residential care centre, our team continues to work on the expansion of our Spanish healthcare property portfolio which, together with Solimar Elche, now counts 8 projects (including those signed under suspensory conditions). We look forward to partnering with Solimar and Vivalto Group for the second time.’
Osborne Clarke advised Care Property Invest with a Real Estate team led by partner Julián Matos, together with lawyers Ariadna Argente and Carlos Casacuberta.
