The portfolio includes six care homes, two kindergartens, and 23 senior living units. The acquired assets are a mix of new buildings and buildings under construction.
We are very pleased to complete this deal. The acquisition is a prime example of our investment strategy. The assets are modern and well-located in Danish growth cities, long lease agreements ensure stable cash flows, and being new, the assets respond well to the high sustainability targets that we have set for the fund’s portfolio, commented Kasper Wehner, Co-Fund Manager, and Investment Director in Denmark.
The acquisition is the latest investment made by the Northern Horizon managed Aged Care IV. ACIV helps Nordic countries meet the challenge of a rapidly ageing population by funding the development of modern and high-quality care homes. The fund has a total investment capacity of 648m EUR and has already committed to 17 care homes in the Nordics.
The largest investment so far was a portfolio of aged care properties in Sweden, acquired from SBB in 2022. With this transaction, the fund reaches approx. 75% in capital deployment.
The acquired assets are located in Holte, Odense, Sorø, Greve, Helsinge, and Kolding and have a total lettable area of 39,502 sqm. Most of the assets will be taken over in 2023. Take-over of the last asset is expected to take place in May 2025.
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.