Northern Horizon’s third institutional healthcare real estate fund, the Nordic Aged Care Fund, has raised €300m of equity commitments in its final close.
“Having exceeded our original €250m fundraising target, we are grateful for the trust the institutional investor community continues to place in us. The rapidly ageing population is one of the biggest societal upheavals of our time and we are proud to contribute to solutions to the challenges it presents. Our mission remains to fund the desperately needed new supply of modern and high-quality care facilities for those senior citizens who are no longer able to live independently”, says Michael Schönach, Fund Manager.
“This final closing now allows us to assemble a portfolio with an acquisition value of €600m. We are already about halfway through committing the Fund’s equity capital and we have a strong off-market pipeline for the other half. In cooperation with our network of developers, private and municipal care operators, and other stakeholders, we look forward to getting these deals done”, adds Andreas Michelsson, Portfolio Manager.
“Care homes have emerged as a liquid and recognised real estate asset class in its own right. We continue to see positive market development and opportunities with a good risk-return balance across the Nordics in this space”, confirm Jussi Rouhento, Head of Finland, and Christopher af Trampe, Head of Sweden.
