“These deals are a great start to the fund’s investment strategy in Finland. The sellers as well as the tenants of these care homes are the Finnish care segment’s leading property developers and operators, respectively. All of the investments are into brand new, state-of-the-art elderly care facilities on long leases. The deals are predominantly forward purchases with one being a forward funding. We are actively working on further projects,” says Northern Horizon’s Head of Finland Jussi Rouhento.

“We’re very satisfied with the pace of capital deployment in Finland, a traditionally very strong market for us. This series of Finnish deals follows our recent entry into Sweden and contributes to a balanced and diversified portfolio composition, as per the fund’s strategy. We now look forward to further care home acquisitions in 2017 across the Nordics”, adds Michael Schönach, Northern Horizon CEO.

Nordic Aged Care is Northern Horizon’s latest specialised care home fund. The Fund aims to help the Nordic countries meet the challenge of a rapidly ageing population by funding the development of modern and high-quality care homes leased to leading public and private care operators on long lease contracts. Nordic Aged Care expects to acquire a mix of newly-built assets, existing assets and conversions from other uses. Following its first closing in May 2016, Nordic Aged Care currently has EUR 163M of equity commitments from a group of European institutional investors, and has a EUR 250M fundraising target. During H2/2016 the fund’s signed portfolio of care homes in Sweden and Finland has already reached approximately EUR 100M.