AXA IM Alts has marked its entry into the Italian elderly care home market with the acquisition of six assets.
The €185 billion global asset manager has invested an undisclosed amount on behalf of clients to acquire the portfolio in a forward purchase from a Namira-managed real estate fund.
AXA IM Alts said the portfolio, spread across the Northern Italian regions of Lombardy, Tuscany and Piedmont, will total 1,440 beds upon completion.
Two assets, located in the provinces of Brescia and Milan, are due to be operational by early 2025 with the remaining anticipated to be operational by early 2026.
Source: realassets.ipe.com on the 12th of June 2023
https://realassets.ipe.com/news/axa-im-alts-buys-six-assets-in-italian-elderly-care-home-debut/10067136.article