NREP announces largest care home acquisition in the Swedish market

NREP has acquired a portfolio of 22 properties across Sweden for €420 million ($450 million), representing the largest care home acquisition in the Swedish market. The seller was Vectura.

With a total leasable area of 99,500 square meters (1.1 million square feet), the properties are located across 18 municipalities in the Stockholm, Mälardalen and Dalarna regions, as well as the southern and western parts of the country. The portfolio consists of 20 care homes and two preschools, which all will be managed by NREP’s social infrastructure platform, Altura.

“This acquisition provides a major boost to our aim to not only become a leading provider of high-quality social infrastructure buildings in Sweden, but to expand our portfolio, which we ultimately seek to grow in further target markets with similar fundamentals and pressing challenges,” said Jani Nokkanen, CIO at NREP. “The share of the Nordic population over 80 years of age is forecast to grow significant