Adriano Care S.A. Acquires Apartamentos Ciudad Patricia

We would like to share with you a new chapter in the history of Apartamentos Ciudad Patricia.

On 24th May 2022, Adriano Care S.A. – an organisation which specialises in “Senior Living”and managed by Azora – acquired 100% of the shares of Apartamentos Ciudad Patricia –  owned by Credo Real Estate Development España (Credo), a subsidiary of the Dutch company Volker Wessels.

The objective of this acquisition is to respond to the growing need for housing solutions related to the ageing of society and to consolidate investment in real estate assets for seniors, adapted to their needs and to new real estate trends.

With this transaction, Adriano Care accounts for more than 2.200 beds in Nursing  homes, and 296 independent living apartments located around Spain: Basque Country, Galicia, Catalonia, Madrid, Castilla y Leon and Valencia.

The transaction has been carried out under the modality of sale and management in return, which means that Credo will continue to manage Apartamentos Ciudad Patricia on a day-to-day basis, carried out by Ms. Sweers and the supervision will remain in the hands of Mr. Jacobs.

We look forward to a successful collaboration with our new owners.