Healthcare II acquires a care property in Vantaa

Northern Horizon Capital’s latest fund, Healthcare II, has on June 17 entered into an agreement to acquire a care property in Vantaa, Finland, from Etera Mutual Pension Insurance Company.

The modern property, built in 2009, is located close to the Helsinki-Vantaa airport in a residential area in Vantaa and has good access to public transportation. The property houses a care home for elderly people as well as a day care centre for children. The nursing home is operated by Attendo, a leading healthcare services provider in the Nordics, and the kindergarten is operated by the City of Vantaa. The nursing home accommodates 38 residents and the day care centre has room for 120 children.

“This care facility is a fine example of combining two different segments in the care industry. A nursing home for the elderly, coupled with a day care centre for children in the same property, makes a good fit. This is the fund’s second acquisition and we are actively looking for similar properties that match our investment strategy”, says Mr. Jussi Rouhento, Fund Manager for Healthcare II.

Healthcare II is NHC’s second fund investing in the Finnish healthcare real estate sector. The fund achieved a first closing in December 2013 and has a current investment capacity of approx. €70m. Healthcare II remains open for further investors and a second closing will be held in Q4 2014.

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