Northern Horizon takes over LEED gold care asset in Alingsås, Sweden

1 March 2022, Northern Horizon took over the newly completed state-of-the-art care home in Alingsås, Sweden. The Alingsås care home is the latest investment made by the Northern Horizon managed Nordic Aged Care Fund. The fund has already committed to 63 care homes in the Nordics.

Alingsås is a modern care home with 80 apartments, divided into 8 units. The asset comprises a total area of approximately 5 400 sqm.

“In several ways, Alingsås is a state-of the art asset. The building has been constructed with a strong focus on sustainability which has resulted in a very effective energy use, and in addition, the future operator has been involved in the development ensuring that the care home is optimized to meet the requirements of high-quality aged care also in the future. The investment fits well with the fund strategy to address the growing demand for modern care facilities in right locations in the Nordics,” comments Riikka Moreau, Fund Manager.

In the construction of Alingsås, the commitment to sustainability has been very strong. The result is an energy use that is 80 percent below the guidelines from the Swedish National Board of Housing, Building and Planning. One of the main reasons for the low energy consumption is the Hybrid Solar System installed in the building. This HYSS system is an innovative solution based on a combination of solar panels and rock energy storage enabling storing of excess heat in summer for use in the autumn and the winter. Also, climate calculations have been used extensively to select products and solutions with the lowest CO2 impact. The building will be certified LEED gold.

“For Northern Horizon, ESG and sustainability have become key parameters in our investment decisions. Also, the LEED Gold certification has been important for us. Alingsås is an ambitious and innovative project in the care home asset class, and we are proud to include the asset in our asset portfolio,” adds Jonas Nolin, Investment Director, Sweden.

The Alingsås care home has been developed by Skanska and will be operated by Vardaga, a Swedish operator in the Ambea group.

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 pursuing healthcare and other specialized real estate investment strategies in Northern Europe. Since 2007, Northern Horizon has developed and acquired more than 120 care homes across the Nordics. Northern Horizon manages real estate funds with over EUR 1billion of assets.

About Vardaga
Vardaga is private elderly care operator that operates approx. 100 care homes in Sweden. Vardaga is part of Ambea, a Nordic private care company with around 26,000 employees.

For further information, please contact:

Riikka Moreau, Fund Manager of Northern Horizon’s healthcare funds
M +358 (0) 50 448 7938

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