Overview of investment
Velfra is a social infrastructure investment that consists of four rehabilitation centres, 39 specialist care homes, seven pre-schools and two elementary schools in Norway, largely located in the Greater Oslo region. All facilities are operated by counterparties that act under public procurement service agreements with Norwegian municipalities or regional health authorities.
- Improving care for the elderly
- Access to high-quality education
- Opportunities for excluded and vulnerable people
- Social infrastructure
- Investment date
- April 2018
- DIF CIF I
- DIF ownership stake
Velfra’s vision is to contribute to a more sustainable society and it has committed to clear climate and environmental ambitions for its real estate portfolio, with a special focus on social sustainability. Effective governance, ethical business conduct and support for a skilled workforce underpins Velfra’s business success.
In 2020, Velfra joined an initiative to offer young people with social difficulties apprenticeship opportunities such as carpentry and other repair works in care homes. It has also collaborated with a local agency to employ both long-term unemployed people and immigrant workers, helping those often excluded to return to the job market.
The firm is also committed to supporting welfare services of the highest quality. For example, Velfra acquired two properties on behalf of one of its operators, who required additional properties on short notice to provide welfare services to children from challenging backgrounds.
Velfra also recognises the importance of playing its part in tackling climate change and works with it tenants to reduce energy consumption and emissions as well as demanding its suppliers to meet environmental certification standards.
“Velfra acts as an essential part of the Norwegian health and care system
by providing specialised facilities to its operators, thereby enabling high-quality of care and education offered to society. The firm is establishing itself as a leading light on social sustainability in Norway.”
Director, Value Creation, DIF Capital Partners