Northern Horizon’s third specialist institutional healthcare real estate fund, the Nordic Aged Care Fund, has agreed to acquire a total of nine care homes in Sweden and Finland, representing a total investment of around €100 mln.
The properties are located in the Stockholm and Gothenburg metropolitan areas in Sweden, and in Helsinki and other cities in Southern Finland and will be completed during 2018 and 2019.
The transactions bring the Fund’s total signed deal volume to €248 mln.
'We are pleased with the cooperation with developers and operators, and we aim to sign another €100 mln into new projects in the next three to six months,' said Michael Schönach of Northern Horizon.
Following a subscription by a further European institutional investor, the Fund is approaching its €250 mln target equity size, added Schönach. 'We look forward to welcoming some further capital into the Fund and aim to have a final close early this year somewhere between our target and the Fund’s €300 mln hard cap.'
Nordic Aged Care was launched in 2016 and it is Northern Horizon’s third specialised care home fund. The Fund targets a portfolio volume of €500 mln.
'We have a very strong pipeline of deals in the Nordics, including in Sweden,' commented Andreas Michelsson, portfolio manager at Northern Horizon.
