The Portfolio consists of 18 pre-school properties and 10 care sector properties. A large majority of the properties are located in or around the largest cities of Finland and are primarily let to leading operators in their segments, on long-term leases.

The Transaction has a total gross property value of EUR 76 million. The closing of the Transaction will take place in two stages. The first tranche of the Transaction, which includes 12 properties, is expected to close on or about 30 December 2022. The second tranche, which includes the remaining 16 properties in the Transaction, are expected to be closed within Q1 2023.

Kinland is a leading owner of key social infrastructure assets in the Nordic region and continental Europe. The Transaction is the sixteenth bolt-on acquisition undertaken by Kinland after it was acquired by a consortium of institutional investors in October 2019, and the second largest completed bolt-on acquisition, measured in gross property value, since that date.

Since its original acquisition, Kinland’s management team has further strengthened the group as the leading provider of government-backed social infrastructure within its geographical segments. Following the Transaction, Kinland will own and manage a portfolio of up to 310+ properties, which represents more than 80% growth since the inception of Kinland. The growth has been particularly strong in Finland, where Kinland has tripled its size from 47 to 142 social infrastructure units over the last two years.

“This large bolt-on acquisition further substantiates Kinland’s ambitions for enhancing our essential societal role as a leading provider of social infrastructure across the Nordics and continental Europe. With this significant transaction we continue to strengthen our position as a leading provider of both daycare and care facilities in Finland, as well as our on-going efforts in building a local organization in Helsinki, Kinland is looking forward to accelerating this growth even further. We are also enthusiastic about doing our first deal with eQ Community Properties, a leading and highly reputable owner of social infrastructure in Finland, and we are thankful for the great cooperation throughout the Transaction”, said Benjamin Thorsen, CEO of Kinland. 

Deloitte acted as legal, financial and tax adviser, and WSP acted as technical adviser, to Kinland in the acquisition.