Chilean-Colombian financial firm Avante Financial Group acquired two retirement facilities in Santiago, from Ambar Residence Group for ~US$35.5m.

(Press Release) Avante Financial Group, a Chilean-Colombian private equity firm, on the acquisition of two retirement facilities located in Santiago, from Ambar Residence Group for approx. USD35,5 million, and the lease of the operations to Acalis, an international retirement communities operator. The transaction also involved the financing of the deal by Principal Financial Group.

This transaction is part of the growing tendency of local asset managers to look for assets that allow them to obtain medium-long-term profitability (in this case real estate assets and the operation of retirement homes).

All firms involved :
Carey as counsel to Avante Financial Group, Palma Edwards y Veszpremy as counsel to Principal Financial Group, IVM ,Infante Valenzuela Molina as counsel to Acalis, Cabello y Cía. as counsel to Ambar Residence Group, Santiago Ruiz de la Fuente as independent practitioner to Ambar Residence Group.