eQ CARE –SPECIAL INVESTMENT FUND DIVESTS 48 PROPERTIES FOR 142 MILLION EUROS

PRESS RELEASE
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 children’s 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 Fund’s first substantial divestment.

”Through this transaction we are shaping eQ Care Fund’s 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 region’s 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 Management.   

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.

Further information:

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.