Banca March launches a new co-investment project with Azora in Senior Living 22 July 2024 Category: Products Banca March is launching Romano Senior, a new co-investment proposal in Senior Living real estate with €100m in capital, in partnership with Azora. The investment in Romano Senior will be channelled through a SOCIMI to be listed on the alternative market, allowing access for both retail and professional investors. This new co-investment in living facilities for seniors comes on the back of the success of Adriano Care, a co-investment proposal launched in 2019 by Banca March and Azora, which has invested almost €250 million in a portfolio of 22 assets comprising a total of almost 3,000 beds. Banca March is reinforcing its co-investment philosophy and inviting its customers to invest in the same assets as the bank itself, fully aligning its interests with those of its clientele. Banca March has launched the Romano Senior strategy, a new co-investment opportunity in Senior Living assets, in partnership with Azora. The investment will be channelled through a SOCIMI to be listed on the alternative market and will allow access for both retail and professional investors. Romano Senior is the second Senior Living vehicle Banca March has created with Azora and will have a total capital commitment of €100 million. This vehicle comes on the back of the successful Adriano Care, the Senior Living co-investment vehicle launched by Banca March and Azora in 2019, which now has a portfolio of almost €250 million invested in 22 assets with a total around 3,000 beds. The demographic trend of population ageing in Spain and throughout Europe is applying added pressure to the already insufficient, poor quality stock of care homes for older adults. Romano Senior will invest in Senior Living assets such as care homes, adapted housing and independent living facilities, as well as other centres providing services for older adults. The product seeks to address the increasing shortfall in care facilities for older adults in Spain and its neighbouring countries due to the obsolescence of the beds available and the increasing number of over-65s. Romano Senior steps up supply of independent living assets Azora and Banca March have joined forces to launch this strategy, which will support continued investment in the traditional model of high quality assets with specialist operators and long-term leases and also expand the existing supply of independent living assets. These are aimed at older adults aged between 65 and 80 who do not need as much medical care and who want to socialise and play an active role in their communities. In addition, Romano Senior will be able to invest up to 30% of its capital in land for development and a further 30% in assets outside Spain, in neighbouring countries. Thanks to Romano Senior, Banca March, a key investor in the vehicle, will reinforce its co-investment strategy, fully aligning its own interests with those of its clientele. Ignacio Montero, Head of Banca March's Co-investment Unit, said: “Banca March is launching Romano Senior, an innovative investment opportunities which not only offers compelling returns, but also seeks to generate a significant social impact, contributing to the wellbeing of older adults and improving the Senior Living infrastructure to ensure these adults have access to safe, suitable housing. Romano Senior addresses the demographic and social challenges caused by population ageing and changes in family dynamics. As life expectancies lengthen and the baby boom generation ages, there is increasing demand for specialist care. This proposal by Banca March is intended to meet those needs, whilst affording its customers the opportunity to invest in a sector which offers sustainable growth and robust demand. It will also generate a positive impact on society, improving people's quality of life and supporting the development of essential infrastructure. Romano Senior is a comprehensive solution which aligns its investors' financial interests with a commitment to social responsibility and to the wellbeing of a growing population group.” Co-investment: a hallmark of Banca March Co-investment is a hallmark of Banca March and the utmost expression of the Group's commitment to its customers, inviting them to invest in the same investment vehicles and projects as the bank itself. In accordance with this philosophy of closely aligned interests, over the years the family-owned bank has co-invested with more than 9,000 customers through its institutional SICAVs (Torrenova, Lluc and Bellver) – liquid co-investment vehicles which, at the end of 2023, had a total volume under management of €1.9 billion. In the unlisted co-investment category, since 2008 the Banca March Group has committed more than €3.3 billion in illiquid assets with its more than 3,100 co-investors.