Northern Horizon fund fully invested with care home buy

Specialised healthcare real estate investor Northern Horizon’s fourth healthcare fund is now fully invested following the acquisition of a care home project in Hørsholm, Denmark, from SPD.

Danish developer Scandinavian Property Development will complete the project (CGI pictured above) in the summer of 2025 and the care home is expected to achieve DGNB Gold certification. Attendo will operate the care home.

The new 4,500 sq m private care home will provide 60 apartments designed to meet the latest standards.

The fund, which has a total investment capacity of €648 million, has already committed to 47 assets in Sweden, Finland and Denmark. Previously, the fund’s most recent acquisition in Denmark was a portfolio of six care homes which, according to Dagbladet Børsen Ejendomme, was the 3rd largest real estate transaction in Denmark in 2023.

Northern Horizon said in a statement that the  elderly population is increasing rapidly in all the Nordic countries but in Denmark alone, the population of people over 80 years is expected to increase by 39% towards 2030. As a result, many Danish municipalities are struggling to keep up with the increasing demand for care beds.

The company’s strategy is to acquire modern aged care assets in attractive locations which are let on long-term leases to strong private or public sector operators.

Author: Paul Strohm