The development project includes a care home of approximately 7,100 sqm, consisting of modern care units, communal areas, and administrative facilities, as well as 16 senior housing units totaling approximately 1,200 sqm. The site enjoys an attractive location overlooking Kerteminde Fjord, with easy access to Odense.
The project has been developed by H. Skjøde Knudsen A/S (Skjøde), an experienced developer and contractor specializing in high-quality residential and care home projects.
“We are delighted to deliver a mixed-use project combining a care home and senior living units that supports the future needs of society for care, housing, and investment in social infrastructure. Our collaboration with Northern Horizon, Altiden, and the municipality has been strong and built on mutual trust,” commented Morten Møller Iversen, Director of Strategy and Business Development at Skjøde.
The new care home will be the first privately operated care home in Kerteminde Municipality. The care home is part of the municipality’s plan to modernize its elderly care facilities, under which two smaller and outdated nursing homes will be closed and replaced by the new facility, which will provide 96 care beds.
In line with Northern Horizon’s investment criteria, the building will comply with the EU Taxonomy and is expected to achieve DGNB certification upon completion.
Scheduled for completion in May 2028, the care home will be operated by Altiden, a highly experienced care provider operating several care homes in Denmark, including facilities in Greve and Holte. The building is being designed to meet Altiden’s specifications, and the operator has been closely involved throughout the design process to ensure that the physical environment best supports modern elderly care and residents’ wellbeing.
“We are delighted to continue our collaboration with Northern Horizon and look forward to operating the new care home for the benefit of the citizens of Munkebo,” said Trine Mottlau, CEO of Altiden.
The senior housing development consists of 16 single-storey, three-bedroom townhouses of approximately 80 sqm each, all featuring private terraces and gardens. Designed with functionality and comfort in mind, the homes are aimed at residents aged 55 and above. Construction of the senior housing is already underway, with completion expected on 1 January 2027.
“We are very excited about the project in Munkebo and look forward to taking over as the long-term owner. We strongly believe in new hybrid concepts that combine care homes and senior housing, creating a shared community for people with different needs and life situations. This promotes both security and social interaction. We already have similar hybrid developments in our Danish portfolio in Vallensbæk and Helsinge, and we are keen to pursue more opportunities of this kind in the future,” said Kasper Wehner, Partner at Northern Horizon and Head of Investments in Denmark.
Commenting on the collaboration with Altiden, Kasper Wehner added:
“We have a long-standing and very close relationship with Altiden. Altiden currently operates our care homes in Holte and Greve, as well as several of our care homes in Sweden, and we are delighted to further strengthen this collaboration.”
Since 2007, Northern Horizon has invested in healthcare real estate across the Nordic region through its healthcare funds, establishing a unique platform and a strong market position. Following this acquisition, the investment manager will own 16 care homes in Denmark, of which six are hybrid developments that also include senior housing or daycare facilities.
For further information:
Kasper Wehner
Partner, Investment Director, Denmark, Northern Horizon
+45 26 18 99 90
kasper.wehner@nh-cap.com
Morten Møller Iversen
Director of Strategy and Business Development, H. Skjøde Knudsen A/S
+45 27 22 17 00
mmi@skjode.dk
About Northern Horizon
Through responsible real estate investments in social infrastructure, Northern Horizon seeks to create long-term value for investors, partners, and society.
With 20 years of experience in healthcare and social infrastructure across the Nordic region, Northern Horizon has established itself as a regional market leader. In 2024, the company launched its fifth fund, the Aged Care Social Infrastructure Fund (ACSIF), an evergreen fund investing in modern care homes and similar social infrastructure assets in Sweden, Finland, Norway, and Denmark.
About Skjøde
Skjøde is a Danish project developer and design-build contractor that develops and delivers residential projects, social infrastructure, and land development for professional clients throughout Denmark. With more than 50 years of experience and 120 employees, the company combines early project involvement, solid craftsmanship, and a strong sense of responsibility throughout every stage of the construction process – from investment concept to completed building.
