Transaction – Social Infrastructure Portfolio

Oslo April 2018 – Infrastructure investors Infranode and DIF have secured a portfolio of health care and preschool facilities from SPG. Akershus Eiendom advised SPG on the transaction.

The portfolio consists of 4 rehabilitation centres, 41 care homes and 7 preschools predominantly located in the growing Greater Oslo Region in Norway. The facilities are operated by renowned private health and care service providers under public procurement service agreements with Norwegian municipalities and regional health authorities.

“Following the Akershus Energi Varme and Oslofjord Varme investments, we are very happy to close our third investment in Norway within a year, which is also our first investment in the social infrastructure sector”, says Philip Ajina, Co-founding Partner of Infranode.

As long-term owners, Infranode (60 % ownership) and DIF (40% ownership) will focus on continuing to offer the public sector and Norwegian citizens excellent quality facilities in partnership with providers of private health and care services and combined with a strong focus on growing the portfolio.

“DIF is excited to enter the growing Norwegian private health and care market. We have established a strong partnership with Infranode and are looking forward to growing the platform in the future”, says Willem Jansonius, Partner at DIF.

SPG has been a first mover in the Norwegian private health and care market and will in the future focus on development of new concepts for the growing need and demand of “Senior Living” projects.

“We strongly believe that Infranode and DIF will be the perfect owner of this portfolio in the future and we want to assist them to grow the platform further.” says Knut Holte, Managing Partner in SPG

Infranode is a long-term infrastructure investor with focus on the Nordics across the energy, transport, telecom and social infrastructure sectors. Infranode’s team includes 10 infrastructure investment professionals with offices in Stockholm, Helsinki, and Oslo. We currently have approximately EUR 450m of capital under management. Our investor base comprises pension and insurance institutions such as the Swedish state’s pension fund 4th AP Fund, Folksam, Swedish municipal pension fund KPA Pension, LähiTapiola, the European Investment Bank, and the IMAS Foundation. Infranode is an affiliate to Areim, an established Nordic real estate fund manager and adviser.

DIF is an independent and specialist infrastructure fund management company, managing funds of approximately €5.1 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies. DIF Infrastructure V targets PPP / PFI / P3, regulated infrastructure assets and renewable energy projects. DIF CIF I target’s small to mid-sized infrastructure in the energy, transportation and telecoms sectors that generate stable and predictable cash flows that are protected over the mid-term. Both strategies target greenfield and brownfield investments in Europe, North America and Australasia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

Scandinavian Property Group AS (SPG) is a property company founded in 2004 and operates in the Scandinavian market with offices both in Oslo and Stockholm. The organization consists of 15 employees who together have a broad and long-standing expertise within transaction, property development, project management, finance and housing production. SPG operates within three industrial focus areas in the Scandinavian property market; health and care, residential and project development of office buildings. SPG was founded in 2004 and has since completed transactions of approximately €5 billion, and currently have projects under management of a value in excess of €1,2 billion.

Akershus Eiendom is a leading Norwegian property advisor established in 1992 providing a wide range of advisory services within capital markets, leasing, corporate solutions and research/valuation. During 2017, Akershus Eiendom executed transactions with a total worth of ~ €1.9 billion in the Norwegian market divided between 47 transactions.

Since, 2001 Akershus Eiendom has been JLL’s affiliated partner in Norway.

Skrevet av Knut Berget, Senior Advisor

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