Special Mutual Fund Titanium Care Real Estate sells a care sub-portfolio to Pareto Securities’ newly established company
October 26, 2018
Special Mutual Fund Titanium Care Real Estate (AIF) has sold a care property portfolio for €48 million to Origa Care AB (publ), a newly established company. The property portfolio entails 13 care properties with a gross lettable area of approx.14,300 square meters.
The property portfolio is anchored by the market leading care service providers Attendo, Esperi Care and Mehiläinen.
Tommi Santanen, CEO at Titanium Oyj comments: “The growth and earnings development of Titanium Care Real Estate Fund has continued positively during 2018. At the end of September 2018, the Fund owned 130 care properties. As the Fund has not previously sold any of its properties, the sale is significant for the care property market showing its attractiveness. We will actively continue to develop the Fund in accordance with its targets”.
“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”, commented Stefan Gottberg, Head of Corporate Finance and Project Finance at Pareto.
CBRE acted as the Seller’s exclusive commercial advisor while Castrén & Snellman Attorneys Ltd acted as the Seller’s legal advisor and Roschier, Attorneys Ltd. as the Buyer’s legal advisor.
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