News

Healthcare II acquires a nursing home in Kaarina

Northern Horizon Capital has on June 30 expanded its latest fund, Healthcare II, by acquiring a care home in Kaarina.

The nursing home “Villa Timantti” is located in a residential area in Kaarina close to Turku. The property was originally built as a retail property and has undergone complete renovation in 2014 to fit modern nursing home standards. The property houses a nursing home for elderly people who are in need of assisted living and is operated by Sap-Care Oy, a Finnish healthcare services provider. It accommodates 36 residents.

Healthcare II is NHC’s second fund investing in the Finnish healthcare real estate sector. The fund achieved a first closing in December 2013 and has a current investment capacity of approx. €70m. In addition to the investment in Kaarina, the fund has made two other investments within a short period of time. Healthcare II remains open for further investors and will have its next closing in Q4.

“NHC’s first healthcare fund, Healthcare I, established in 2007, has been highly successful – the occupancy rate has constantly been 100 % and after the investment period, the fund has been able to distribute substantial annual dividends to its investors. We feel confident that Healthcare II will reach similar results”, says Mr. Jussi Rouhento, Fund Manager for Healthcare II.

For further information please contact:

Mr. Jussi Rouhento, Head of Finland &
Fund Manager Healthcare II
Tel: +358 40 512 9577, jussi.rouhento@nh-cap.com

Mr. Andreas Michelsson, Co-Fund Manager Healthcare II
Tel: +358 40 703 3445, andreas.michelsson@nh-cap.com