AXA Investment Managers - Real Assets completes acquisition of a portfolio of 11 Finnish healthcare assets for c. €65 million, on behalf of AXA Selectiv’ Immoservice
AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real assets investment and the leading(1) real estate portfolio and asset manager in Europe, announces that it has completed the acquisition of a portfolio of 11 healthcare assets in Finland for a purchase price of c. €65 million. The portfolio was acquired on behalf of AXA Selectiv’ Immoservice(2), a fund dedicated to retail investors mainly through life insurance contracts distributed by AXA France.
The portfolio comprises 11 high quality, modern and purpose-built healthcare assets, all of which have been developed since 2012, with two remaining under construction, due to be completed in 2017. Nine of the assets focus on elderly care while the remaining two specialise in mental health provision. The portfolio is let to five market-leading Nordic operators, and benefits from long-term leases.
The portfolio is concentrated in southern Finland, the most densely populated part of the country. AXA IM - Real Assets’ entry into the Finnish social care industry comes at a time when the country’s forecasted population growth, coupled with its rapidly ageing population, has contributed to an expanding market for healthcare services.
This investment is directly in line with AXA Selectiv’ Immoservice’s strategy, which enables its retail investor clients to diversify their portfolios through focusing on healthcare, social care, student housing, hotel and residential investments across Europe, unlocking capital value through active asset management and repositioning of assets.
Fredrik Söderlund, Head of Asset Management & Transactions for the Nordic Region, at AXA IM - Real Assets, commented: “The positive demographics supporting the Finnish healthcare sector make this acquisition particularly attractive, enabling us to instantly gain a meaningful exposure to this growing market. The wider Nordic region has presented a number of compelling investment opportunities in recent years as the supportive underlying economic fundamentals have established the Nordics as one of Europe’s key real estate markets.”
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1) Source: IP Real Estate Top 100 Investment Management Survey – Nov/Dec 2016
2) AXA Selectiv’ Immoservice is managed by AXA REIM SGP, a subsidiary of AXA IM - Real Assets
AXA Investment Managers – Real Assets
Charline Coué, Media Relations Manager, Real Assets
Jocelyne Tamssom, Head of Communications, Real Assets
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