News

Northern Horizon acquires aged care properties and aged care project property in Sweden from SBB for its fourth healthcare fund

Swedish publicly listed company Samhällsbyggnadsbolaget i Norden AB (SBB) announced Friday 15 July 2022 the sale of two aged care homes and a project property as well as the transfer of a property that SBB would have acquired in August 2022 to Northern Horizon. The four properties have a total lettable area of 28,902 sqm.

Northern Horizon specializes in healthcare and other specialized investment strategies in Northern Europe. As its three predecessors, Aged Care Fund IV helps the Nordic countries meet the challenge of a rapidly ageing population by funding the development of modern and high-quality care homes.

We are very excited about this transaction that is the largest so far for Aged Care Fund IV. This new investment fits perfectly with the fund’s strategy to acquire modern care facilities in the right locations in the Nordics so we are very pleased with the acquisition,” comments Jonas Nolin, Investment Director, Northern Horizon Sweden.

The agreed total property value amounts to SEK 1.382 million. Fully let, the properties are estimated to generate a rental value of SEK 55.4 million per year.

The closing of the two completed properties in Sollentuna and Haninge will take place on 12 August 2022. The project property located in Täby is expected to close in September 2022 and the property to be acquired is expected to be transferred on 30 August 2022.

For further information, contact:

Jonas Nolin, Investment Director, Northern Horizon Sweden

M +46 766 777 994
E jonas.nolin@nh-cap.com

 

About 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 1b 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. https://www.nh-cap.com

About Aged Care Fund IV
Nordic Aged Care Fund IV was launched in 2020. The Fund’s strategy is to acquire modern aged care assets across the Nordics which are let on long-term leases to strong private or public sector operators.

About Samhällsbyggnadsbolaget i Norden AB (SBB)
Samhällsbyggnadsbolaget i Norden AB (SBB) is the Nordic region’s leading property company in social infrastructure. The company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. The company’s series B shares and D shares are listed on Nasdaq Stockholm, Large Cap.