Pioneer Property Group ASA's subsidiary Pioneer Public Properties
Finland Oy has today closed the acquisition of fourteen properties
in Finland for a total property value of MEUR 34.5 with annual
rental income of MEUR 2.3. The properties have been acquired from
Cor Group Oy, Cordis Oy, and Trevian Care Sub Fund IV Ky. Thirteen
of the properties are pre-schools leased out to the leading private
pre-school operator Touhula on long triple-net contracts, and the
final property is for intellectually disabled, rented to the leading
care operator Esperi Care. The portfolio is partly financed with a
loan from Danske Bank at 60% loan-to-value with competitive market-
based terms, and the remaining equity portion from the cash reserves
in the PPG group.
Enquiries
Martin P. Hoff, CFO
+47 47214721
www.pioneerproperty.no