15.10.2020
PRESS RELEASE
The Special Investment Fund eQ Care divests 55 properties, mainly care homes and child day care centres, to Samhällsbyggnadsbolaget i Norden AB (publ) (SBB). The purchase price is approximately 222 million euros. The aim is to close the deal during fourth quarter 2020. SBB is amongst the leading real estate investors in social infrastructure properties in the Nordics.
The Special Investment Fund eQ Care was founded in 2012 and has grown and developed strongly – the value of the assets managed by the Fund amounted to 1.3 billion euros as per end of September 2020. The Fund is the largest private social infrastructure owner in Finland managed by a team of thirteen real estate investment professionals. The assets owned by the Fund are well-diversified in different segments and located in the growth centres in Finland.
”This transaction will shape eQ Care Fund’s portfolio towards our target allocation. In connection with this deal, the Fund strengthens its position as owner and developer of larger and centrally located care and municipal properties while improving the effectiveness of its operations. The number of properties decreases from 162 to 107 while the average size of the assets increases, which also streamlines fund management. After the divestment, Helsinki region’s share of the Fund is 66 %. SBB is an esteemed investor, focused on care and municipal properties. The transaction is also a strong indication of a well-functioning and active real estate investment market.” states Tero Estovirta, Head of Real Estate Investments at eQ Asset Management.
The Special Investment Fund eQ Care invests in Finnish care and municipal properties. The Fund is open for subscriptions four times a year and for redemptions twice a year. Since inception, the average annualised return of eQ Care has been 8.8 % p.a. (net of fees).
Helsinki 15 October 2020
eQ Asset Management Ltd.
Further information:
Tero Estovirta, Head of Real Estate Investments, eQ Asset Management Ltd, +358 50 593 6194 / tero.estovirta(at)eQ.fi