Copenhagen-headquartered real asset manager Northern Horizon has acquired a care home project in Sweden from developer Skanska for SEK 260 mln (€25 mln).
The project in Alingsås, dubbed Villa Brogården, has been purchased for Northern Horizon's Nordiska vårdhem property fund. The scheme should take two years to build out.
Comprising 80 apartments, Villa Brogården is a five storey property covering just over 5,300 m2. A lease agreement has been signed with Vardaga, which will be responsible for the operation of the retirement home.
Skanska Sweden said it was developing the scheme to high sustainability requirements. The ambition is that the energy consumption will be 80% below the Swedish national board of housing, building and planning's guidelines.
Specifications include solar cells on the roof and geothermal heating, with a target of Leed Gold certification.
Skanska said that construction work had already begun on site, with completion planned for the first quarter of 2022.
