AG likes opco+propco model for senior care home assets

AG Real Estate’s parent AG insurance acquired 100% of the shares of Belgian senior care home owner-operator Anima last year. The day-to-day running of the company has been entrusted to AG Real Estate.

AG Real Estate chief alternative investments and sustainability officer Amand Benoit d’Hondt explained that the company has invested in the healthcare sector for the past 10 years. “It’s an important part of our portfolio and we have invested in Belgium, Germany, the Netherlands and Spain,” he said.

Some years ago the company decided it needed to operate as well as own the homes but AG was unsuccessful in its bid for an operator in France. Following that it discovered Anima.

“They had more personnel than legally required, they had very much a focus on quality and had a lot of different KPIs to make sure that the personnel were handling the residents very well. We also wanted to make sure that the buildings were of high quality and that people had very good food,” D’Hondt said. “All these different aspects were really key for us to make sure that we were investing, not only in good bricks, but also in operations that were focused on making residents happy in the different facilities across the country.”

Please click on the video above to watch the full interview or listen to the podcast below.