Kinland is to acquire a high-quality portfolio of 28 social infrastructure properties in Finland
PATRIZIA portfolio company Kinland AS (“Kinland”) has agreed to acquire a portfolio of 28 social infrastructure properties in Finland from eQ Community Properties for EUR 76 million.
The high-quality portfolio is primarily located in or around Finland’s largest cities (Helsinki, Oulu and Kuupio), with its properties largely let on long-term leases (~10 years WAULT) to leading operators within preschools and a number of care segments.
The transaction will close in two phases: the first, including 12 of the properties, is expected to close by 30 December 2022, while the acquisition of the remaining 16 properties is expected to complete within Q1 2023.
The investment follows a period of strong growth since the inception of Kinland, which under PATRIZIA’s ownership has grown from 172 properties in October 2019 to more than 310 at the completion of this transaction, making it one of the leaders in social infrastructure in the Nordics. This represents an increase in AUM of approx. 90%, with particularly strong growth in Finland where it has tripled in size from 47 to 142 social infrastructure units over the last two years.
You can now read the full press release at the link below