News

Healthcare II to acquire a nursing home in Helsinki

Northern Horizon Capital’s Healthcare II -fund has signed an agreement to acquire a nursing home in Finland’s capital, Helsinki. The redevelopment project is expected to finish towards the end of 2015.

Once ready, the nursing home will offer modern facilities for up to 34 elderly persons in the nice suburban area of Paloheinä. The existing building, an old church built in 1963, which has stood without use for several years, will undergo very extensive renovation as well as receive newly developed added space. The operator of the premises will be Hoitokoti Päiväkumpu Oy, a Finnish family-owned company founded in 2001. Hoitokoti Päiväkumpu currently operates four nursing homes in the Helsinki region and considers happiness and home-like surroundings as core values in their business.

Healthcare II is Northern Horizon’s second fund investing in the Finnish healthcare real estate sector. Thus far the fund has signed and closed several transactions in 2014 and the fund is looking to grow its portfolio even further in the coming months. Healthcare II remains open for further investors and will have the timing of its next closing confirmed shortly.

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

Download this release (in English) in pdf

Download this release (in Finnish) in pdf