Northern Horizon acquires Danish aged care portfolio for €67m

Independent real estate investment manager Northern Horizon has acquired a portfolio of new aged care homes in Denmark.

Aged care home in Horsens

The portfolio is being purchased from AP Ejendomme, a division of the prominent Danish pension fund, AP Pension. AP Ejendomme developed and constructed the facilities and has established a strong partnership with Danske Diakonhjem, which will remain the operator. The transaction is valued at over DKK 500 mln (€67 mln).
Northern Horizon has specialized in investing in Nordic care homes and senior housing for 18 years. Its healthcare funds have invested in more than 160 care home properties across the region, establishing the company as a leading social infrastructure asset manager in the Nordics.
This Danish acquisition includes 182 care beds in three private care homes located in Nyborg, Nørager, and Horsens. Danske Diakonhjem, a reputable Danish non-profit care provider, will continue to operate the homes under long-term leases.
Upon completion, the three care homes will be integrated into Northern Horizon's fifth care home fund, the Aged Care and Social Infrastructure Fund. This evergreen fund, with approximately €750 mln in assets, focuses on investments in modern care homes, senior housing, and related social infrastructure.
Kasper Wehner, co-fund manager at Northern Horizon and responsible for investments in the Danish market, said: “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.” 
CEO of AP Ejendomme, Peter Olsson, added: “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.” 
Northern Horizon has expanded its portfolio of aged care homes in Finland through two successful acquisitions completed over the summer. Building on this investment momentum, the company anticipates further acquisitions in the near future.
Since 2007, Northern Horizon has made over 160 investments in care and senior housing assets in the Nordic region.