Real estate investor Nrep has acquired a portfolio comprising 17 care properties, including assisted living, supported housing, and early childhood education units, across Finland, for around €100 mln.
The properties have been divested by the Finnish special investment fund eQ Community Properties. The majority of the properties have been built or renovated for care home use within the past decade.
Nrep said they were strategically located in the Helsinki metropolitan region, Tampere, Turku, Vaasa, Hämeenlinna, and Jyväskylä, providing easy accessibility by both car and public transport.
'The care properties in the portfolio are of high quality and located in growth centres where there is a increasing demand for care properties. The properties are an excellent fit with our investment strategy, and their user demand is supported both by the quality of the properties and also by their easy accessibility,both for care home employees and visiting relatives. We want to invest where people are,' said Joonas Lemström, Country Manager at Nrep.
With the transaction, Nrep said it would be able to support the provision of high-quality assisted living and care services in Finland. The main tenants of the properties are large providers of private care and housing services, such as Attendo, Esperi Care and Mehiläinen.
Lemström added: 'Urbanisation is driving change in the care segment and accessibility and quality of service are becoming increasingly significant.
'We want to be a part of the solution to challenges posed by the increasingly ageing population in Finland and other Nordic countries. Modern premises and care properties that are designed to fulfil people’s needs create great grounds for an environment that promote well-being.'
The firm said it would also tackle the sustainability profile of the properties.
'Nrep has set ambitious sustainability targets. Given that the existing property stock accounts for 30% of energy consumption in Finland, emissions during use hold significant importance in our emission reduction plans. Our objective is to develop properties that align with current requirements, ensuring their longevity and continued relevance,' concluded Lemström.
