AXA IM Alts has entered the Spanish healthcare market with the acquisition, made on behalf of clients, of a healthcare complex in Zaragoza.
Its debut investment will see the development of a 12,600 sq m (circa 129,000 sq ft) state-of-the-art health facility in Zaragoza offering 270-beds across a nursing home and mental health clinic, alongside a separate on site day care centre.
Grupo Lar has been retained as developer of the asset, which is due to be delivered in Q4 2025, and it will also support in sourcing suitable land for further opportunities. The complex has been pre-let on a long-term lease to care home operator Grupo Mimara.
Esther Escapa, head of transactions a development Iberia at AXA IM Alts, said: “The healthcare asset class in Spain is highly fragmented with low volumes of institutional participation and acute undersupply. We see an opportunity for AXA IM Alts to leverage its track record in the sector to become a leading investor in this market.
“We hold a strong conviction in healthcare real estate given the demographic trends underpinning it, which have become increasingly pronounced in Spain as the aging population expands, without the supply to accommodate it. Through our dedicated new strategy we will aim to fulfil a clear gap in the market and provide purpose-built, high quality and ESG compliant real estate solutions for healthcare operators across Spain.”
