The acquired property has a lettable area of 23,000 square meters, meaning that Hemsö will more than double its floor space for school premises in Finland.

“This acquisition is undoubtedly a key component of Hemsö’s continued expansion in Finland,” commented Hemsö’s CEO Per Berggren.

The tenant is Satakunta University of Applied Sciences (SAMK), which has signed a 20-year lease that has been underwritten by the Municipality of Pori. A small area for grocery trade is being leased by Kesko.

“We are looking forward to constructive dialog and enhanced cooperation with SAMK and the Municipality of Pori,” says Hemsö’s Country Manager Finland, Jarkko Leinonen.

The seller is the Finnish property company Citycon. Hemsö will take possession of the school in May 2017 on its completion.