Perial AM buys senior living tourism development

Perial Asset Management has acquired a tourist residence dedicated to seniors located in the seaside resort of Vilamoura in Portugal for €47 million.

The transaction will be delivered in the first quarter of 2025 and is on behalf of the SCPI PFO₂, which will receive financial income immediately accretive to the performance of the fund.

The senior living accommodation is part of a large mixed urban redevelopment project which will include both residential buildings, accommodation for tourism, shops and leisure.

The tourist residence, which is currently under development, is being co-promoted by Aegide and the Portuguese subsidiary of Nexity and will be operated by Domitys, a brand of the Aegide Group, a subsidiary of AG2R La Mondiale, under a 15-year lease.

Senior living provider Domitys is already established throughout France as well as in Belgium, Italy and Mauritius. This opening is part of its geographic expansion to reach 240 residences open by 2025 where more than 30,000 seniors will live.

The property, which is close to the beaches and the marina is intended for senior retirees who wish to be independent but surrounded for temporary stays, this residence will offer hotel and para-hotel services.

Also, beyond the private spaces dedicated to the apartments, the residence offers a wellness area with spa, two swimming pools (indoor and outdoor), a sports hall, two bars, one of which is on the rooftop. as well as a restaurant.

The residence is aiming for BREEAM Very Good level certification

Perial AM was advised in this operation by Drees and Sommer on the technical audit and the law firm VDA .

What they said

Stéphane Collange, director of investments Perial AM, said: “We are delighted to approach this new European market alongside a benchmark operator like DOMITYS. This transaction is perfectly in line with the fund's strategy, which targets assets in the managed accommodation sector. For this first, we have chosen the Vilamoura project which, in addition to being virtuous from an environmental point of view, is also virtuous from a societal point of view. This tourist residence for seniors responds in the region, as in the country, to a lack of supply of reception facilities for seniors. With this building, we are responding to a real need in the area.”

Arnaud Fety, director of key and institutional accounts at Aegide, said: “Through this acquisition, we are delighted to develop our concept in Portugal, Eldorado of the Silver Economy, giving rise to the creation of travel opportunities, temporary stays for DOMITYS residents, their relatives and all seniors in general.”