Northern Horizon continues to expand its healthcare portfolio via this Finnish transaction, which is the first addition to the new evergreen vehicle with current assets under management of close to EUR 700 million. A hesitant market in Finland over the last two years has created opportunities to evaluate off-market standing assets and to select the ones most suitable for the Fund’s strategy.

The deal includes two properties in Espoo and Lahti with a total lettable area of approximately 3,500 square meters. The Espoo asset is located in the Helsinki capital region and was completed in 2018. The second asset, located in Lahti, a regional hub among the largest growth centers in Finland, was completed in 2023.

The properties meet the high sustainability requirements set for the Fund’s portfolio, and both assets are operated by Attendo, the leading care provider in the Nordic region. The average remaining lease term is 13,5 years, and both are fully inflation-indexed on a yearly basis.

“We are very satisfied with this deal, which aligns perfectly with our investment strategy. We have a significant pipeline, and we continue to look for opportunities,” commented Jussi Rouhento, Fund Manager and Head of Finland.

After the transaction, Aged Care and Social Infrastructure Fund’s portfolio consists of 65 healthcare assets in Sweden and in Finland. The Finnish sub-portfolio comprises 43 assets. The total lettable area of the Finnish assets is 61,500 square meters. The assets are 100 percent occupied by a strong tenant mix, including Attendo, Mehiläinen, Esperi Care, and several public tenants with the blended sub-portfolio WAULT of approximately 10 years.

“This acquisition underlines our ambition to be the leading Nordic investment manager in social infrastructure. There is a growing need for modern healthcare assets in our region, and we are seeing a lot of interest from international investors who are attracted by the strong market fundamentals with high growth potential, strong returns, and a very attractive risk profile. We are very optimistic about our continued expansion,” added Christoffer Abramson, Group CEO, Northern Horizon.