Finnish asset manager Trevian has acquired 15 care facilities on behalf of a new fund.
Finnish asset manager Trevian has acquired 15 care facilities on behalf of a new fund.
Announcing the first close of Trevian Care I, Trevian said the vehicle had acquired the portfolio from Finnish pension funds Varma and Etera.
The investment value of the acquired portfolio was close to €100 mln.
Trevian is targeting a size of more than €200 mln for the fund, making it the largest real estate equity fund specializing in the Finnish care property sector.
The portfolio will be built up by acquiring additional care properties or portfolios from the market. The fund is backed by Finnish institutional investors.
Danske Bank, Nordea Bank Finland, Pohjola Bank and Svenska Handelsbanken acted as arrangers of the loan facility for the transaction. Nordea Bank Finland acted as coordinator of the facility.
Trevian Asset Management was established in 2012 and is owned by its key personnel. The company produces actively managed real estate equity funds and provides asset management services. The firm has €400 mln of assets under management.
