Spain
Cofinimmo launched its activities in healthcare real estate in Spain in September 2019 with a first pipeline of five construction projects spread through Galicia, Valencia, Murcia and Andalusia. Since then, the group has considerably extended its portfolio in this geography, which consists of standing assets, greenfield projects as well as land reserves. In May 2021, the group closed a major transaction which led to the acquisition of a portfolio of 18 well-maintained assets in operation, representing more than 2,700 beds. Spain has been an important source for growth at Cofinimmo now boasting of 28 operating sites, currently all nursing and care homes with different leading operators and a large pipeline of future projects.
Portfolio fair value
(million EUR)
428
Occupancy rate
(%)
100
Average residual lease length (years)
20
Operational sites
29
Project in the spotlight
OLEIROS: FIRST NURSING AND CARE HOME BREEAM EXCELLENT IN SPAIN
This newly-built nursing and care home in the city of Oleiros, Galicia, is operational since October 2021.
This is a very representative and important project for Cofinimmo and the Spanish healthcare sector as it is the first healthcare project to be granted a BREEAM Excellent certification in Spain. Thanks to an energy intensity of 58 kWh, the building, which offers 140 beds and a total surface area of approximately 5,000 m², has achieved an A-level energy performance label.
With this project, Cofinimmo has set a trend in Spain to build healthcare projects as sustainably as possible, it is also one of a long list of new development projects with BREEAM Excellent certifications.