PIONEER PROPERTY GROUP ASA - ACQUISITION OF 11 PROPERTIES FROM CARE PROPERTIES FINANCE AS

Pioneer Property Group ASA's subsidiary Pioneer Property Group International AS has today entered into a definitive sales and purchase agreement to acquire 8 properties in Poland, 3 properties in Netherlands and 1 property in Sweden for a total purchase price of EUR 18.2 million. The properties have been acquired from Care Properties Finance AS, a subsidiary of Norlandia Health & Care Group AS. All of the properties are preschools with Norlandia as the operator. The lease contracts are triple-net contracts with an average length to expiry of fifteen years.

Ole-Kristofer Bragnes, CFO
Telephone: +47 917 03 415
E-mail: IR@pioneerproperty.no