Renta Corporación explores the residences for the third age market

Renta Corporación explores the residences for the third age market

The senior living market is gaining more and more prominence in our country, trying to improve the current system of residences for the third age and generating new residential formulas for the elderly.

The growth of this market niche is motivated by the aging of the baby boomer generation and the scarcity of infrastructures adapted to the needs of the elderly.

In addition, the gastronomy, climate and lifestyle of our country attracts people from different cultures and nationalities who choose it as a destination to enjoy their old age. There are currently more than 9 million people over the age of 65 in Spain and forecasts indicate that, by 2035, this population segment will grow to nearly 13 million people, almost 30% of the total.

At Renta Corporación we analyze the market on a daily basis to identify and take advantage of the best opportunities. We believe that now is the time to anticipate the imminent unprecedented growth in the demand for geriatric services adapted to guarantee the quality of life of the elderly population.

The aging of the population is increasing the interest in investing in residencies for the third age

With the mission of meeting the needs of this population group, Renta Corporación has once again partnered with the Dutch company APG to create Wellder. A socimi specialized in residences and health centers for the elderly.

Wellder is born to create a portfolio of real estate assets in the “senior care” segment that prioritizes the well-being and quality of life of people. The initial investment will be approximately 250 million euros to acquire existing centers and build new developments, preferably in provincial capitals with more than 100,000 inhabitants, with a surface area of between 4,000 and 7,500 m2 and a range of 80 to 140 beds per center.

This new segment acquires a social component with which we seek to align ourselves as much as possible with ESG criteria, prioritizing the highest quality in the field of health, well-being and respect for the environment. To this end, we have agreed on sustainability standards that cover both the purchase process and the construction of the assets.

Together with the Dutch pension fund we also created in 2017 the socimi Vivenio, dedicated to the acquisition and management of housing for rent, which already has more than 6,000 homes and a successful track record.

Renta Corporación and its expansion into other markets

Society is constantly evolving and the increase in people’s longevity is just one example of this.

The emergence of new trends in our way of life such as teleworking or innovative ways of buying, consuming and storing personal items have also produced significant changes in our daily lives.

The rise of e-commerce has motivated the transformation of the logistics sector around the world. In our country, custom-made and turnkey projects are becoming more and more important, as well as new trends in construction methods to ensure greater energy efficiency and sustainability in all processes.

If we talk about innovative personal storage formulas, we have to mention Cabe, an organization dedicated to the rental of intelligent urban storage rooms. With this new line of business, we seek to respond to an unsatisfied demand for future storage for individuals or freelancers.

This is a clear example that at Renta Corporación we want to make the most of the opportunities offered by the sector and diversify our activity by exploring new markets.