The asset is located between central Halmstad and Tylösand in Southern Sweden. The property is purpose-built and once completed, the care home will comprise a total area of approx. 4,500 sqm and contain 60 apartments as well as common areas.

The care home will be operated on a long-term lease basis (15 years) by Vardaga Äldreomsorg AB, a Swedish operator in the Ambea group.

Solar panels will be installed on the roof, and the building will meet silver level requirements according to the Sweden Green Building Council framework.

We are very excited about this transaction in Halmstad that fits perfectly with the investment strategy for our fourth fund. The asset is modern and purpose-built and with a silver level certification, the asset responds well to the ambitious sustainability targets that we have set for our investments. The asset will be a great addition to the portfolio that already includes more than 25 healthcare assets across Sweden, Finland, and Denmark, commented Jonas Nolin, Investment Director and Head of Sweden for Northern Horizon.

With this transaction, Northern Horizon will have deployed approx. 80% of Aged Care Fund IV’s investment capacity in into the healthcare properties in Sweden, Finland, and Denmark making it one of the most active players in providing social infrastructure for the elderly in the Nordics.

Mannheimer Swartling has advised Northern Horizon on the deal. Morris Law is the advisor for the seller.

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 130 care homes across the Nordics. Longstanding relationships with developers and operators have enabled the team to source c. 95% of all investments off-market.

About Aged Care Fund IV

Nordic Aged Care Fund IV was launched in 2020. The 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. The strategy of ‘Aged Care Fund IV’ is to acquire a diversified portfolio of stable, income producing aged-care assets on long-term, 100% inflation linked leases to strong private or public sector operators across the Nordics.