Hemsö in Transaction with the City of Turku

Finland Finland Hemsö and the City of Turku are preparing a transaction whereby Hemsö will acquire a property portfolio comprised of eight nursing homes and health care properties from the City of Turku in Finland. The acquisition cost amounts to EUR 130M.


Share via e-mail

The seller is the City of Turku, which will become the tenant with a remaining average lease term of 11 years. If the planned social and healthcare reform in Finland is carried out with a number of autonomous regions (county councils), the lease agreements will be transferred to the newly formed region.

The property portfolio being acquired encompasses slightly more than 80,000 sqm and can be divided into three sub portfolios: the city hospital area comprising 11 leasehold buildings, a nursing home portfolio consisting of five properties and a health care property portfolio with two properties. The properties are centrally located in Turku, which makes them interesting in terms of continued investment and property development.

“We are very positive to the partnership with the City of Turku. Turku is an extremely good investment market with numerous development possibilities, and we plan to further broaden our portfolio,” says Gustav Björkman, CIO of Hemsö.

“We are pleased about strengthening our ties with the City of Turku. The growing Turku area is interesting for us and accordingly, it is very positive that we are increasing our presence there. Gaining the City of Turku as a strategic partner provides us with the possibility to contribute to the city’s continued development,” says Jarkko Leinonen, Hemsö’s Head of Asset Management Finland.

“Hemsö is characterised by long lease agreements and stable customers. We are very pleased that Hemsö is interested in investing in and developing health care and nursing homes in Turku over the long term,” says Jarkko Virtanen, Deputy Mayor, City of Turku.

The acquisition is conditional on a decision by the local executive and the city council, which is expected to be taken at the start of December 2018.

Axel Ohlsson

“We Believe That the Volumes Will Stay on a High Level”

Finland Finland Kojamo’s CEO Jani Nieminen tells Nordic Property News about the first year as a listed company and shares his view on the Finnish real estate market.

Genesta Sells Antinkatu I in Helsinki

Finland Finland Genesta sells the office property Antinkatu 1 on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) to Schroder Nordic Real Estate Fund.

“The List of Things to Do Is Very Long”

Finland Finland The new Managing Director Kati Kivimäki wants to make Mall of Tripla the greatest mall in the Nordics. She tells Nordic Property News about her vision, the tasks before the opening and whether she sees Swedish Mall of Scandinavia as an inspiration.

Kati Kivimäki Appointed New MD of Mall of Tripla

Finland Finland Kati Kivimäki has been appointed as the Managing Director of Mall of Tripla, the shopping centre that will be opened in Central Pasila in autumn 2019. She will start in the position in the spring.

"Finns See More Risks than Opportunities"

Finland Finland Hemsö has gone on a real spending spree in Finland in recent months – purchasing a portfolio in Turku and the Helsinki Court House for a total of EUR 380M. Head of Finland Jarkko Leinonen tells Nordic Property News of the attraction of Turku, why he prefers to work for a Swedish company and what Hemsö is looking for now.

Hemsö Invests in Turku Technology Properties

Finland Finland Hemsö is acquiring a property portfolio with eight nursing home and health care properties in Turku, Finland, as agreed in a previously announced letter of intent. Hemsö will simultaneously invest and acquire a 34.8-per cent stake in Turku Technology Properties (TTP).

Astel Builds Largest Modular Apartment Project in Finland

Finland Finland Astel, the third biggest house factories’ group in the Baltic countries, will start manufacturing one of the largest prefabricated modular apartment building projects in Finland. The new modular apartment project consists of 300 apartments in 9 apartment buildings with a total living area of 12,030 sqm and the total cost of the project is EUR 24M.

"He Clicks with All of Us”

Finland Finland Cibus Nordic Real Estate’s Chairman of the Board Patrick Gylling on why Sverker Källgården was appointed new CEO, the time since the resignation of the predecessor and how close the first Swedish acquisition is.

Patrizia Sells Helsinki Office to EQ

Finland Finland Patrizia has completed the sale of the Itämerenkatu 5 office building in Helsinki for EUR 41 million. The property was sold to a Finnish investment fund, Special Investment Fund EQ Finnish Real Estate.

Sverker Källgården New CEO for Cibus

Finland Finland The board of directors of Cibus Nordic Real Estate has appointed Sverker Källgården as new CEO of the company.