Public Property Invest ASA (“PPI”) has agreed to acquire three high-quality care properties with 15-year 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. The acquisitions reflect an average purchase price of EUR 3,500/m² and a net yield of 6.6%.
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 m² 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.
All three developments are designed to meet high environmental standards and will achieve an EPC A rating and comply with EU taxonomy sustainability criteria. The transactions will be completed during Q4 2025, and development costs will be incurred in line with the completion rate.