Perial Asset Management has acquired a tourist residence, currently under development, dedicated to seniors located in the seaside resort of Vilamoura in Portugal for €47 million on behalf of the SCPI PFO₂.
The transaction will be delivered in the first quarter of 2025.
Located in the famous seaside resort of Vilamoura, in the Algarve region in southern Portugal, this tourist residence is part of a large mixed urban redevelopment project which will include both residential buildings, accommodation for tourism, shops and leisure.
Covering an area of approximately 13,000 m² divided into R+3, the residence includes 159 apartments ranging from studios to premium T3 measuring more than 100 m², and 164 parking spaces.
The tourist residence will be operated by Domitys, a brand of the Aegide group, a subsidiary of AG2R LA MONDIALE, under a lease term of 15 years.
”First Portuguese signature for Perial Asset Management. 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,” said Stéphane Collange, Director of Investments Perial AM.
”Through this acquisition, we are delighted to develop our concept in Portugal, El Dorado of the Silver Economy, giving rise to the creation of travel opportunities, temporary stays for DOMITYS residents, their relatives and all seniors in general.declares Arnaud Fety, Director of Key and Institutional Accounts at Aegide.