In all the Nordic countries, the elderly population is increasing rapidly. In Denmark alone, the population of elderly people over 80 is expected to increase by 39% towards 2030. As a result, many Danish municipalities are struggling to keep up with the increasing demand for care beds.
Northern Horizon is committed to helping meet the mounting need for care beds in the Nordics. The strategy is to acquire modern aged care assets in attractive locations which are let on long-term leases to strong private or public sector operators.
The new care home in Hørsholm will be located in the area that surrounds the old clothing factory. The project has been developed by SPD, a specialized developer with a proven track record of high quality care home projects in Denmark and Sweden.
The 4,500 sqm care home contains 60 modern apartments, various common areas and administration facilities. The building has been designed by Danielsen Architecture and is expected to achieve DGNB Gold.
The property is a result of a close collaboration with Hørsholm municipality and is completely aligned with the municipality’s values and visions for urban development as well as elderly care. The care home will offer modern, high-quality apartments that meet the latest standards for interior design and comfort, said Niclas Thorsbrenner, partner at Scandinavian Property Development.
In the development process, there has been a particular focus on ensuring the architectural quality in the exterior of the building, while the interior of the property offers a number of attractive common areas, including an orangery on the roof terrace. The green areas around the building will include a biodiverse garden and there will be plenty of opportunities for outdoor activities and short walks for the residents.
The care home is expected to open its doors to the first residents in the summer of 2025 and will be operated by Attendo A/S, the Nordic region’s largest private provider of care for the elderly.
We have an excellent, long-standing collaboration with Attendo. Today, Attendo operates several of our care homes in Sweden and Finland as well as our Danish care home in Frederikssund, and we look forward to welcoming them to Hørsholm, commented Kasper Wehner, Co-Fund Manager at Northern Horizon and responsible for investments in the Danish market.
The care home in Hørsholm has been acquired for Northern Horizon’s fourth healthcare fund, which has a total investment capacity of EUR 648 million. The fund has already committed to 47 assets in Sweden, Finland and Denmark. The fund’s most recent acquisition in Denmark was a portfolio of six care homes, which according to Dagbladet Børsen Ejendomme was the 3rd largest real estate transaction in Denmark in 2023. With the new acquisition, the fourth healthcare fund is fully invested.
About Scandinavian Property Development
Scandinavian Property Development was established in 2004 by Founding Partner Stig Holmboe. SPD manages own development projects and projects for professional investors, tenants, owners and operators with a particular focus on aged care and senior housing in Denmark and Sweden.
About the Northern Horizon
Northern Horizon is an independent asset manager with more than 20 years of experience. Since 2007, Northern Horizon has had a strategic focus on care and senior housing in the Nordics. Through four specialized funds the company has invested in more than 140 care properties in the Nordic region.
Attendo is the leading Nordic provider of elderly care and care for people with disabilities. Attendo has provided care services in Denmark since 1996. The company has approx. 24,000 employees and is listed on the stock exchange in Stockholm.