Aged Care IV invests in modern, fit-for-purpose care homes and similar residential care assets in the Nordic countries. The fund’s strategy addresses the structural shortage of care homes and senior living concepts as a result of an ageing population in the Nordics, while at the same time helping to solve a societal challenge by providing good quality living conditions for the seniors. The buildings are leased to private and public care operators on long-term leases.

We are pleased to have exceeded expectations since the final close in December 2022. While the real estate transaction volumes in general have been very low in the Nordics in 2023, we have seen many opportunities in the healthcare segment which has allowed us to be selective to fully benefit from the current market situation, said Kasper Wehner, Co-Fund Manager for Aged Care IV and Investment Director in Denmark.

The fund’s most significant transactions are:

  • December 2023 – A portfolio of 15 prime healthcare properties in Finland acquired from eQ
  • March 2023 – A portfolio of 6 care homes, two kindergartens, and 23 senior living units in Denmark acquired from NREP
  • July 2022 – A portfolio of 4 Swedish aged care properties acquired from SBB

Following the fund’s last acquisition of a care home under construction in Hørsholm, Denmark, the fund’s portfolio is diversified across 3 countries, 31 municipalities, 6 segments, and 24 tenants. The fund has ambitious ESG requirements for its asset portfolio, and more than half of the assets already have or are expected to achieve BREEAM or similar certification.

As a pioneer in Nordic healthcare real estate, Northern Horizon has established itself as a manager of choice for institutional investors looking to invest in healthcare assets. Its healthcare real estate investment strategy has consistently delivered strong returns and successful portfolio exits, and the company sees further potential.

We are very well positioned to create value for investors in this segment, and also in the future. We have proven access to the best off-market opportunities. We are optimistic about the value proposition of investing in social assets going forward, and we continue to see a lot of opportunities, added Lars Ohnemus, Chairman of the Board, and acting CEO.

About Northern Horizon

Northern Horizon is an independent asset manager with more than 20 years of experience. Northern Horizon has had a strategic focus on aged care and senior housing in the Nordics since 2007. Through four specialized funds, the company has invested in more than 150 care properties in the Nordic region.