The Special Investment Fund eQ Care
has sold a mixed-use portfolio comprising 48 properties, including elderly care homes and children’s day care centres, to Samhallsbyggnadsbolaget i Norden AB
(SBB) for c.€142m. eQ Care was founded in 2012 and has grown to €1.1bn as per end of March 2019. The fund is the largest private social infrastructure owner in Finland. This deal marks its first substantial divestment.
”Through this transaction, we are reshaping eQ Care Fund’s portfolio. Following the transaction, it will strengthen its position as owner and developer of larger and more centrally located care and communal properties. The number of properties decreases from 197 to 149 while increasing the average size of the assets, which also improve fund management. After the divestment, the capital region’s share of the Fund is 57% and the share of elderly care homes is 40%. SBB is an esteemed party, which focuses on care and communal properties. The transaction is also a strong indication of a working and active real estate investment market,” said Tero Estovirta, Head of Real Estate Investments at eQ Asset Management.