Danish labour-market pension fund AkademikerPension is investing in care homes locally through a partnership with LeadCrest Capital Partners.
Closed-ended European real estate fund LeadCrest said the partnership – which has been agreed with Landsforeningen Autisme on behalf of AkademikerPension – is developing the Ny Højtoft project in Hvalsø, a DKK130m (€17.4m) asset in Lejre, Hvalsø.
Landsforeningen Autisme will commit to a 30-year lease on the 4,470sqm facility once the development is completed in the second quarter of 2024. The state-owned autism association and AkademikerPension plan to develop up to 10 new care homes worth up to DKK1bn as part of their partnership.
Søren Møller-Larsson, the head of real estate at AkademikerPension, said: “This transaction embodies our previously announced target of investing additionally up to DKK7bn in Danish real estate by 2026.
“By signing an exclusive partnership, we secure future pipeline and deal flow while capitalising on an initial pilot project. We are delighted to positively impact Danish communities and families while protecting the financial interest of AkademikerPension’s members.”
Georges Asmar, a portfolio manager at LeadCrest Capital Partners, said: “We are delighted to complete another transaction this year and our first in Denmark on behalf of AkademikerPension.
“This transaction is in line with our DNA of partnering with organisations to help them achieve their strategic objectives by funding their real estate needs.”
LeadCrest targets sale-leaseback and build-to-suit investments with a particular focus on the consumer goods, industrials, healthcare and education sectors.
To read the latest edition of the latest IPE Real Assets magazine click here.
