A luxury resort-residence for LGBT men aged 65+
Panorámica Golf, Sant Jordi / San Jorge · Castellón, Spain
The project is deeply personal to me.
A personal commitment to build a safe future for a vulnerable group of people — and, at the same time, an institutionally scalable business model.
Casa de Vida creates a chosen family within a protected environment
An answer to social isolation and the fear of discrimination
Fills the gap in specialized medical and social infrastructure
Casa de Vida unites senior living, healthcare and luxury hospitality — creating a category for which Europe has no premium, at-scale offering today.
Europe has no premium, at-scale format for older LGBT men
Demand comes from an affluent Northern European audience
Spain is a natural destination for retirement migration
The project builds an asset with low competition, ESG value and a clear exit path
Target audience: men aged 65+ from Northern Europe with high and very high income.
potential clients; the largest market
high purchasing power and a mature care-services market
high willingness to relocate and demand for Spain’s climate
Casa de Vida is a hybrid of a luxury resort, medical support and a private community. 80 premium apartments.
A fully inclusive environment, trained staff and community-based care.
The Panorámica Golf development, municipality of Sant Jordi / San Jorge, province of Castellón.
The site is planned amid a golf course, olive groves, hills and mountain views.
A 5.11 ha (51,146 m²) estate, 2–3 storeys — the format preserves the scale of a luxury resort.
The recommended 2–3 storeys preserve privacy, natural scale and the resort-residence aesthetic, avoiding an “institutional” look.
Not a classic nursing home
Not an ordinary resort
Not social housing
It is a premium resort-residence with medical support, privacy and community
Men aged 65+ from Northern Europe with high income
share of the 65+ population in the EU today
→ ≈ 30% projected by 2050
Rising life expectancy intensifies demand for the active-longevity format.
A transparent and predictable per-resident revenue model.
per month per apartment / resident
at 92% stabilised occupancy (74 units)
After stabilization, the tariff can be indexed ≈ 3% per year.
Base case: the budget includes contingency; final TDC is refined after due diligence, the Proyecto Básico and the pre-construction tender.
OPEX ≈ 65.2% of revenue. EBITDA margin in the model is ≈ 34.8%.
OPEX covers staff, medicine, catering, utilities, grounds, insurance, marketing and administration.
The project delivers attractive returns under an institutional model and a transparent ownership structure.
Exit is possible via a sale of PropCo / Project HoldCo, refinancing, or a sale of the stabilized rental income to a healthcare / senior-living fund.
Legal due diligence, specialized partners, asset separation and function isolation.
| Risk | Likelihood | Mitigation |
|---|---|---|
| License delays | Medium | Pre-checks, specialized licensing consultants, final confirmation of the day-care model with the municipality |
| Construction inflation | Medium | EPC contract, fixed prices, contingency reserve and phased CAPEX discipline |
| Staff shortage | High | Partnerships, training, a premium employer model and a payroll reserve |
| Slow lease-up | Low / medium | Pre-sales 12–18 months ahead, LGBT and senior-living audience channels, waiting list |
| Land zoning | Medium | FOU, Registro, Catastro, urban-planning and utility-connection checks |
| Legal structure & licenses | Medium | PropCo / OpCo separation, licenses at OpCo level, shareholder agreement, reserved matters, budget control and audit |
The project advances in phases: land, licenses, construction, launch, stabilization.
Land acquisition, legal due diligence, architectural concept
Basic design, licensing, investor syndication
Construction, procurement, pre-marketing
Soft launch and first residents
Stable occupancy (92%) and stabilized revenue
Debt at ~60% LTC — a balanced structure for a project backed by a tangible real-estate asset.
Investors enter at the Project SPV / HoldCo level. Funds flow to PropCo for land and construction, while operations run through OpCo under a separate licensed model.
Each block of the project — real estate, operations, licenses and brand — sits in its own legal entity.
The Project SPV controls the project, but real estate, operations, licenses and brand are separated into distinct legal blocks.
The waterfall applies at the Project HoldCo level after servicing bank debt and operating reserves.
Return of invested capital to investors
Target preferred return of 8% per year
After the 8% preferred return, distributions split directly 80/20 — more investor-friendly than market standard (no catch-up tier).
Profit split between investors and the managing partner, e.g. 80/20
A sale to an institutional player after stabilization is the primary exit scenario.
Sale of the stabilized senior-living / healthcare real-estate asset to a real-estate fund or operator after stabilization.
After stabilization — possible return of part of the capital via a bank or long-term loan.
Dividend yield after stabilization and retained upside of the Casa de Vida platform.
The primary sale object is a stabilized senior-living / healthcare real-estate asset with an operator model — not just a “resort”.
gross: PropCo NOI / 5.75% cap rate
net: after selling costs and debt repayment
Team roles mirror the project’s legal structure: brand, real estate, operations, licenses and expert oversight are separated.
25 years in franchising. Founder of Franch — a company that builds turnkey systemic franchise networks to scale and expand businesses. Present in 40 countries.
More than 30 professionals work on the project
Clinical protocols, quality of care, partners
Residence management, staff, service, licenses
PropCo, construction, contractors, budget and schedule
ESG, healthcare, legal & regulatory oversight
The final configuration of operators and development partners is set during pre-construction and locked in the OpCo / DevCo / ManCo agreements.
after stabilization, on €24.3M TDC (PropCo NOI / 5.75% cap rate)
Casa de Vida — one of Europe’s first premium resort-residences with medical support for gay men aged 65+
For investors, partners and funds — the full financial model and investment memorandum are available on request.