Hemfosa Acquires 14 Community Service Properties
Sweden Hemfosa has acquired a total of 14 community service properties, of which nine school properties, four LSS homes and one property that houses office premises and an HVB home. The total property value amounts to MSEK 390 and the properties are fully leased to tenants in the community services sector. These acquisitions further strengthen Hemfosa in its position in community service properties and as a partner to established players in the community services sector.
Hemfosa has acquired nine school properties in Sollentuna, with a number of schools and preschools as tenants, four LSS (support and service for the disabled) homes from Emrahus in Helsingborg, Västerås and Örebro, as well as Omsorgens Hus in Kungsbacka – a property that houses office premises and an HBV (nursing and accommodation) home. The acquisitions have a total underlying property value of approximately MSEK 390 and annual rental income for the properties amounts to about MSEK 31.
School properties in Sollentuna
Hemfosa has acquired a property portfolio comprising nine school properties in Sollentuna totaling 11,685 square meters. The seller is the Municipality of Sollentuna. The properties are fully leased to private preschools and schools with Inspira Förskolor och Skolor as the largest tenant, accounting for about half of the rental value. Hemfosa currently owns a number of properties in Sollentuna and therefore has established property management activities in the municipality. The average remaining contract length is 5.9 years. Possession was taken of seven of the nine properties on May 3, 2018.
LSS homes in Helsingborg, Västerås and Örebro
Hemfosa has acquired four LSS homes, of which two located in Helsingborg, one in Västerås and one in Örebro, totaling 2,397 square meters. The seller is Emrahus, which Hemfosa started a cooperation with in 2017 following the acquisition of two LSS homes in Gävle. The properties are fully leased to Attendo, Nytida AB and Team Olivia on 15-year leases. All of the properties are constructed as passive buildings, which leads to low operating expenses and a small environmental footprint. Possession was taken of one of the properties on March 22, 2018 and of a second property on May 4, 2018. Ownership of the two remaining properties will be transferred according to the timetable following completion, with occupancy scheduled for October 1, 2018 and January 3, 2019, respectively.
Omsorgens Hus in Kungsbacka
Hemfosa has acquired Omsorgens Hus in Kungsbacka comprising a main building which houses office premises and a smaller building that houses an HVB home, a total of 5,150 square meters. The seller is a group of private individuals through companies. The property is fully leased to the Municipality of Kungsbacka. The average remaining contract length is 3.7 years. Ownership of the property will be transferred in July 2018.
“We are both proud and pleased that these acquisitions will deepen cooperation with several established community players and we look forward to continuing to develop these long-term relationships. We can see a major need for investments and renovation as well as newly built premises, primarily school and healthcare properties, in our markets today. Hemfosa, with its specialist knowledge and experience in this field, has major opportunities to make a contribution as a long-term partner,” says Jens Engwall, CEO of Hemfosa.