Northern Horizon is acquiring a portfolio of aged care homes from AP Ejendomme, a subsidiary of AP Pension, a major Danish pension company. AP Ejendomme has successfully developed and constructed the care homes and has built a close collaboration with the operator, Danske Diakonhjem, who will continue to operate the care homes going forward. The transaction value exceeds DKK 500 million (EUR 67m).
Northern Horizon is committed to helping to solve the growing societal challenge in the Nordics driven by a structural undersupply of care beds.
Northern Horizon has 18 years of experience in investing in care homes and senior housing in the Nordics. To date, Northern Horizon’s healthcare funds have invested in more than 160 care home properties across the Nordics and have created a unique platform for Northern Horizon as the leading specialized social infrastructure asset manager in the Nordics.
The acquisition in Denmark includes a total of 182 care beds across three private care homes in Nyborg, Nørager, and Horsens, all operated by Danske Diakonhjem, an experienced Danish non-profit care provider, under long-term lease agreements.
Following hand-over, the three care homes will be part of Northern Horizon’s fifth care home fund – Aged Care and Social Infrastructure Fund – an evergreen fund with a total asset value of approx. EUR 750 million, focusing on investments in modern care homes, senior housing, and similar social infrastructure.
“We are very excited about this transaction, which is one of the largest care home deals in the Danish market. The new assets fit well into our portfolio because the buildings are of very high quality, they have a strong ESG performance – and they are located in areas where the need is both great and growing, as the number of elderly people will increase significantly in the coming years,” explained Kasper Wehner, Co-Fund Manager at Northern Horizon and responsible for investments in the Danish market.
“With the development and construction of the three private care homes, we have combined our special expertise within real estate development with the financial strength of AP Pension to create modern care beds for our elderly citizens, while also securing pension customers an attractive return on their investments. We are pleased to be able to transfer ownership to Northern Horizon, a highly qualified owner with the experience, competencies, and ambitions required in this field,” commented CEO of AP Ejendomme, Peter Olsson.
Over the summer, Northern Horizon has successfully completed two acquisitions of aged care homes in Finland. Northern Horizon is experiencing strong momentum on the investment side and expects further acquisitions in the short term.
