Northern Horizon acquires aged care home in new district under development in central Kalmar

Through the Nordic Aged Care Fund – the 3rd Fund in the aged care series – Northern Horizon has entered into an agreement to acquire a new, modern purpose-built care home in Kalmar, southern, Sweden, for circa 225 MSEK. Closing of the transaction is scheduled for June 30th, 2021. The property was completed at the end of 2020. The asset comprises a total area of approximately 4 300 sqm and contains 60 apartments, divided into six units. The care home is operated by Vardaga (Ambea) under a 15-year lease agreement.

“We are very excited to announce the acquisition of the care home property in this brand-new district in central Kalmar. There is a growing need for modern aged care facilities across Sweden and we have been looking to invest in Kalmar for a while. The vision for this district fits perfectly with our investment strategy so we are very pleased to add this property to our portfolio,” comments Jonas Nolin, Investment Director, Northern Horizon Sweden.

“Sustainability is at the core of our investment strategy, and besides from being modern and well-located, the new aged care home in Kalmar also complies with the ambitious ESG targets that we have for the Fund assets,” adds Riikka Moreau, Fund Manager in charge of Aged Care for Northern Horizon.

For more information, please contact:

Jonas Nolin, Investment Director, Northern Horizon Sweden
M +46 766 777 994 E

Riikka Moreau, Fund Manager, Northern Horizon
M +358 50 448 7938 E

Facts about Northern Horizon

Northern Horizon

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 acquired more than 120 care homes across the Nordics.

Northern Horizon manages real estate funds and separate accounts with over EUR 1billion in assets for leading European financial institutions and private wealth capital including pension funds, insurance companies, banks, asset managers, corporate investors, charity foundations and family offices.

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.