Public Property Invest ASA ("PPI") has agreed to acquire three high-quality
care properties with 15 years leases and yearly 100% CPI indexed NOI of EUR
1.85 million, one in the Helsinki region and two in the Turku region, for
approximately EUR 28 million.
Hartela Oy will construct the properties under a turnkey agreement.
Construction of the properties will commence during 2025, with estimated
completion dates between autumn 2026 and spring 2027. The properties will
comprise a total combined lettable area of approximately 8,000 sqm and will
provide modern care facilities serving the growing demand for elderly care
services in the Greater Helsinki area and Turku region.
The portfolio comprises a total of 195 care places leased to well-established
tenants: 75 care places in Kirkkonummi leased to Attendo, and 60 care places
each in Kaarina and Lieto leased to Kototiimi Oy. All properties are secured
with 15-year lease contracts. Upon completion, the properties are expected to
generate combined annual net rental income of approximately EUR 1.85 million.
All three developments are designed to meet high environmental standards and
will achieve an EPC A rating and comply with EU taxonomy sustainability
criteria, demonstrating PPI's commitment to sustainable property investment.
"These acquisitions represent attractive additions to our Finnish care
property portfolio and demonstrate our commitment to grow and develop our
critical social infrastructure portfolio across Finland. By investing in
modern care facilities in growing regions, we help provide essential services
to local communities while creating stable, long-term returns for our
shareholders. Furthermore, we are pleased to establish cooperation with
Hartela for development within this segment in Finland," says Ilija Batljan,
CIO of PPI.
The transactions will be completed during Q4 2025, and development costs will
be incurred in line with the completion rate.
For further information, contact:
Ilija Batljan, CIO
ilija@publicproperty.no