Pioneer Property Group ASA's subsidiary Pioneer Public
Properties Finland Oy has entered into agreement to acquire
twelve pre-school properties in Finland for a total property
value of MEUR 22. The properties have been acquired from
Trevian Care II Ky and are all leased out to the leading
private pre-school operator Touhula on fifteen year triple-
net contracts. Total annual rent is approx. MEUR 1.4 with
full annual cpi adjustments. Closing will be the fourth of
October.
The portfolio is partly financed with a MEUR 13.2 loan in
Danske Bank at competitive market-based terms, and the
remaining equity portion from the cash reserves in Pioneer
Public Properties AS.
Enquiries
Martin P. Hoff, CFO
+47 47214721
www.pioneerproperty.no