News

Completion and take-over of two new care assets in southern Finland

Northern Horizon continues delivering on its strategy to provide high quality care facilities in the Nordics. In December 2020, Northern Horizon managed Nordic Aged Care Fund committed to acquire 2 care homes in Finland from Sievi Group. The value of the two projects exceeds EUR 10 million. The first care home was just completed, and the second will be completed in January 2022.

The Validia Kaarina care home was completed during Q4/2021. Located in Kaarina in Turku region, the care home includes 18 apartments. Q1/2022, the second care home, Validia Järvenpää, in the greater Helsinki area will be completed. This care home includes 32 apartments.

Both care home assets are fitted for disabled residents and will be operated and leased on a long-term basis by Validia a Finnish operator specializing in high-quality housing services for physically and mentally disabled.

“Validia Oy is a leading provider in the Finnish disabled care sector, and we are excited to welcome Validia on board to operate the new care homes,” comments Riikka Moreau, Fund Manager in charge of Aged Care for Northern Horizon.

“The transaction fits well with the fund strategy to address the growing demand for modern care facilities in the Nordics. For the Nordic Aged Care Fund, residential care homes for disabled people constitutes a complementary asset class that provides risk diversification benefits,” Riikka Moreau adds.

For further information, please contact:

Riikka Moreau
Fund Manager of Nordic Aged Care Fund, Head of Finland
E riikka.moreau@nh-cap.com +358 (0) 50 448 7938

 

About Nordic Aged Care Fund
Nordic Aged Care was launched in 2016 and it is Northern Horizon’s third specialized care home fund. The Fund helps the Nordic countries meet the challenge of a rapidly ageing population by funding the development of modern and high-quality care homes. The Fund raised EUR300 million of equity and is fully committed.

About Northern Horizon Capital
Northern Horizon is an independent real asset manager with a strategic focus on the elderly care sector in the Nordic region. Since 2007, Northern Horizon has developed and acquired more than 120 care homes across the Nordics. Northern Horizon manages real estate funds and separate accounts with over EUR 1billion of assets.

About Validia Oy
Validia Oy is a Finnish provider of care services for the disabled. The company provides housing and rehabilitation services, personal assistance and day care services for people with physical and mental disabilities. Validia has more than 1,500 employees and is a subsidiary of The Finnish Association of People with Physical Disabilities.