Northern Horizon expands its portfolio of care assets in Finland with three acquisitions in key cities

Northern Horizon launched its fifth and most recent healthcare fund, Aged Care Social Infrastructure Fund (“ACSIF”), in 2024. In the past year, Northern Horizon has expanded ACSIF’s asset portfolio significantly. Three new acquisitions in Helsinki, Jyväskylä, and Vantaa, all completed in November-December, takes ACSIF’s Finnish sub-portfolio to 47 assets with 1,588 care beds in total and a total lettable area of 70,831 sq. m.

Another 27 care assets in Finland is owned by ACSIF’s predecessor fund, Aged Care Fund IV.

‘We are very excited to grow our Finnish portfolio with these prime deals. We believe that they are an excellent fit: they are new, purpose-designed, and located in major cities where we are seeing a significant need and a limited supply. We have built a strong pipeline of opportunities, and with the current market fundamentals in Finland, we expect more deals soon,’ commented Jannika Kankare, Investment Director in Finland.

In Jyväskylä, a forward funding project has been acquired from Lapti. The project comprises a care facility with 60 care beds for elderly in need of 24/7 care. The asset is EU-taxonomy aligned and projected to achieve BREEAM In-Use Excellent and an expected EPC of A. When completed in Q4 of 2026, the care home will be operated by Attendo, a leading care provider in the Nordic region, on a 15-year lease agreement.

In Helsinki, a senior housing asset with 45 apartments completed in 2022 has been acquired from Graniittiasunnot Oy. A 15-year triple net lease agreement was signed upon closing with Solum, an experienced Finnish provider of care services for elderly and children.

The third deal in Vantaa is a residential care home for the disabled, completed in 2023. The care home has 27 apartments and is operated by Palvelukoti Vantaan Kaskelanrinne Oy, a specialized Finnish care provider. The seller is Oy Wedeco Ab.

The average remaining lease term of the two standing assets in Helsinki and Vantaa is 16,5 years. Both assets are EU taxonomy-aligned and are expected to achieve BREEAM Very Good certification in 2026.

Following the recent transactions, ACSIF’s portfolio comprises 74 healthcare assets across Finland, Sweden, and Denmark, fully let to a mix of private and public care providers.

For further information, please contact:

Jannika Kankare
Investment Director, Finland
jannika.kankare@nh-cap.com
+358 (0)40 833 2321

About Northern Horizon

Northern Horizon delivers long-term value to investors, partners, and society through responsible real estate investments in healthcare and social infrastructure.

Northern Horizon has 18 years of expertise in healthcare and social infrastructure real estate in the Nordics and has established itself as a regional leader. Northern Horizon launched its fifth healthcare fund, Aged Care Social Infrastructure Fund, in 2024. ACSIF is an evergreen fund that invests in new, modern care facilities and other social infrastructure assets in Sweden, Finland, Norway, and Denmark.