Senior living funds hold successful closes
Senior living’s appeal has been underlined by the recent successful closing of two funds.
Northern Horizon has held a €300 million final close for its third institutional healthcare real estate fund, the Nordic Aged Care Fund, oversubscribing its initial target. The fund helps the Nordic countries meet the challenge of rapidly ageing populations by funding the development and acquisition of modern and high-quality care homes which are leased to leading public and private care operators on long-term contracts.
Another similar fund that has closed is OPPCI (Professional Real Estate Investment Institution) LF Résidences Seniors, managed by La Française Real Estate Managers. It launched in October 2016, and will use the €150 million raised by the time of its final close (rising to €200 million including debt) to invest in 13 residences spread throughout France. As of 31 March, nine residences were already held by the fund, with two under promise and two in the co