eQ Oyj: eQ CARE SPECIAL INVESTMENT FUND DIVESTS 48 PROPERTIES FOR 142 MILLION EUROS
25 April 2019, 09:00 AM
The Special Investment Fund eQ Care divests 48 properties to
Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) which mainly are elderly
care homes and childrens day care centers. The purchase price is
approximately 142 million euros, and the intention is to close the deal on
29 April 2019. 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
strongly the value of the assets managed by the Fund amounted to 1.1
billion euros as per end of March 2019. The Fund is the largest private
social infrastructure owner in Finland, and its managed by a team of ten
real estate investment professionals. The assets owned by the Fund are well
distributed both by location and by segment in Finland. This deal is the
Funds first substantial divestment.
Through this transaction we are shaping eQ Care Funds portfolio in the
desired direction. In connection with this deal, the Fund strengthens its
position as owner and developer of larger and more centrally located care
and communal properties while improving the effectiveness of its
operations. The number of properties decreases from 197 to 149 while
increasing the average size of the assets, which also improve the fund
management. After the divestment, the capital regions share of the Fund is
57% and the share of elderly care homes is 40%. SBB is an esteemed party,
which focuses on care and communal properties. The transaction is also a
strong indication of a working and active real estate investment market.
states Tero Estovirta, Head of Real Estate Investments at eQ Asset
The Special Investment Fund eQ Care invests in Finnish care and communal
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 9.0 % p.a. (after costs).
Helsinki 25 April 2019
eQ Asset Management Ltd.
Tero Estovirta, Head of Real Estate Investments, eQ Asset Management Ltd,
mobile. +358 50 593 6194 / tero.estovirta@eQ.fi
eQ Group is a Finnish group of companies specialising in asset management
and corporate finance business. eQ Asset Management offers a wide range of
asset management services (including private equity funds and real estate
asset management) for institutions and individuals. The assets managed by
the Group total approximately EUR 9.5 billion. Advium Corporate Finance,
which is part of the Group, offers services related to mergers and
acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on our website at www.eQ.fi.