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Europa Capital takes first steps into senior living sector

Europa Capital has made its debut in senior living investment, paying €45 million for a Danish hospital which will be converted into senior housing.

The acquisition at Helsingør, Denmark, has been made on behalf of Europa’s latest value add fund and has been made through a joint venture with Copenhagen-based Keystone Investment Management and Ailon Group.

The JV will create a 5,300 sq m complex with 58 assisted living units let to Nordic care provider Attendo, and 108 private build-to-rent units that will be specifically designed for seniors.

The 14,200 sq m project will also include a GP surgery. Construction is expected to be complete in Q1 2023.

The living sector represented about 80% of Europa’s transactions activity in 2020 and the company has invested about €1 billion in PRS assets and student accommodation to date, about 10,500 beds across the UK, Spain, Denmark and Germany.

Europa Capital partner Hugo Black said the deal is “an exciting milestone for Europa Capital as we expand on our existing residential expertise through our first investment into the senior living sector

Savills Operational Capital Markets Europe and Colliers Denmark advised on the acquisition.