Just a few weeks after the announcement of the acquisition of a Danish aged care portfolio in March 2023, the first two care homes, Altiden Holte and Mariehjemmene Odense, have now been taken over by Northern Horizon. Located in the Copenhagen suburb Holte, Altiden Holte helps to meet the demand for modern care homes in the municipality of Rudersdal.
Altiden Holte is located in the municipality of Rudersdal in the Northern area of Greater Copenhagen. Today, the municipality has a population of around 56,000 and like most of the other 97 municipalities in Denmark, the elderly population is growing rapidly. The forecast for Rudersdal shows an expected increase of 30% for the +80 years-old towards 2032.
This demographic trend has created a need for privately owned and privately operated aged care homes to complement the municipally operated and owned facilities.
The profile of a modern care home
Altiden Holte offers 72 bright and airy apartments and plenty of common areas. The facilities are located in green surroundings. Inspired by terraced houses, most of the property is one plan, creating a familiar and homely atmosphere for the residents, many of whom are affected by dementia.
The property was completed in August 2021. Besides being a modern purpose-built care home, a strong point for residents, family members as well as staff is the location just 2.5 km from the city center of Holte in a residential area.
The care home offers its residents studio apartments as well as one-bedroom apartments. The apartments include bedroom areas/bedrooms, seating areas, private kitchenettes, and bathrooms. The apartments are spacious, which allows for individual furnishing and ensures plenty of space for the care team and for disability aids.
Altiden Holte has many common areas including a living room with a fireplace, a café, and a fitness room. There is also a hall where concerts, cinema, dancing and lectures are organized. Outdoors, there is a sensory inspired garden, atrium gardens, communal terraces, a greenhouse, as well as green paths.
Private operator Altiden operates the care home according to the ‘Fribo concept’, which is designed to ensure the everyday life for residents with physical and cognitive challenges. Altiden is part of Ambea, the leading care provider in Scandinavia, which operates more than 100 nursing homes across the Nordics.
Altiden Holte is designed with a strong focus on the environment and a healthy indoor climate. The roof is equipped with a solar panel system and the separation of wastewater and rainwater also contributes to reducing the environmental impact.
Altiden Holte was acquired by Northern Horizon for Aged Care Fund IV in March 2023 in the largest ever care home transaction taking place in Denmark. The acquisition included six care homes, two kindergartens, and 23 senior living units.
Altiden Holte is located very close to the city center and with the recent completion date, the property’s sustainability features, and a long lease agreement with a specialized operator, Altiden Holte ticks all the boxes in the investment strategy for Aged Care Fund IV, says Kasper Wehner, Investment Director in Denmark.
The acquired portfolio is a mix of new buildings and buildings under construction. Altiden Holte and Mariehjemmene Odense were taken over in April 2023. The remaining care homes are under construction and will be handed over once completed. Take-over of the last asset is expected to take place in May 2025.
For more information about the transaction, go to the press release from 14 March 2023.