Northern Horizon agrees forward purchase of Finnish care homes

Helsinki-based investment manager Northern Horizon Capital has forward-purchased eight new elderly care homes in Finland for its Healthcare II fund.

The properties, totalling 10,000 m2, are located in the Finnish municipalities of Loviisa, Kouvola, Säkylä, Ylöjärvi, Äänekoski, Kuusamo, Rovaniemi and Muhos.

Developer Rakennusliike Lehto will develop the properties and Esperi Care will operate them to provide accommodation for 250 residents.

Northern Horizon has invested in care properties since 2007. The Healthcare II fund has acquired 20 new care homes this year.