Mutualidad de la Abogacía sells a residential centre in Sant Cugat del Vallés

Mutualidad de la Abogacía has announced the sale of a residential centre for the elderly to Adriano Care Socimi, a Spanish socimi listed on BME Growth, specialised in investing in assets for the elderly and managed by Azora.

The building, located at Carrer Victor Hugo 10 in Sant Cugat del Vallés, Barcelona, has a surface area of 9,488 m2 and 180 beds. Among other facilities, it has an adapted gym, library, chapel, car park, children’s area, auditorium and various rooms for medical care.

The asset is leased to Amavir, a company specialising in the management of assets for the senior population, under a binding contract until 2034. The transaction has been advised by JLL on behalf of the buyer.

Following the transaction, Mutualidad de la Abogacía has a total of 42 properties in its portfolio, with a total surface area of 185,605 m2 and a market value of over EUR 742 million. It is also a shareholder in Millenium Hospitality Real Estate Socimi, Advero Socimi Properties, Inbest Prime IV Inmuebles and Inversa Prime Socimi (formerly Almagro Capital), where it also sits on the Board of Directors of the three entities, and in the real estate investment funds Meridia IV and Ardian Real Estate European Fund II, among others.