Europa Capital has acquired a senior living development project in Helsingør, Denmark, on behalf of its latest value-add fund.
The project will develop a 5,300-square-meter (57,048-square-foot) complex with 58 assisted living units leased to Nordic care provider Attendo, and 108 private build-to-rent units that will be specifically adapted for seniors. The 14,200-square-meter (152,847-square-foot) site will also include a commercial unit, which is expected to become a GP surgery.
“This acquisition provides an excellent opportunity to convert a former hospital into state-of-the-art senior accommodation, and it marks an exciting milestone for Europa Capital as we expand on our existing residential expertise through our first investment into the senior living sector,” said Hugo Black, partner at Europa Capital.
Construction is under way, with completion expected in the first quarter of 2023.
