New SPV buys care properties in 48 mln EUR deal

Origa Care, a new SPV established by Pareto Securities, has acquired a portfolio consisting of 13 care properties in Finland. The portfolio, with anchor tenants such as Attendo, Esperi Care and Mehiläinen, was sold by Special Mutual Fund Titanium Care Real Estate (AIF) for EUR 48 million and has a total lettable area of circa 14,300 sq.m.

While Origa is unlisted the transaction was financed by share issue and bank financing. The company will be managed by Pareto Business Management and a local property manager, according to a press release from Pareto.

“The execution of yet another high quality investment in the Finnish market is a strong testament to our strength in finding attractive returns and to raise capital in the Nordic investment market for those opportunities. Management of the properties will be carried out by Pareto Business Management as usual,” Stefan Gattberg, Head of Corporate Finance and Project Finance at Pareto, comments.

Sverrir Thór