The acquisition is being carried out under the framework agreement signed with YIT in June 2016. The preschool is situated in Espoo, in the Helsinki region, and comprises a lettable area of about 1,140 sq.m. The tenant is Tenava Päiväkodit Oy, one of the largest privately owned preschool operators in Finland. The nursing home, located in Tampere, covers an area of about 3,430 sq.m and the tenant is Attendo Oy. The rental contract for both properties extends for 15 years.

“These transactions are the first to be carried out under the framework agreement we signed with YIT in June. The two properties are newly constructed and contain modern and inviting premises. We estimate the total underlying value of the framework agreement at about EUR 75M, so we are continuing to expand in Finland at a good pace,” says Jarkko Leinonen, Head of Region Finland at Hemsö.

The properties are expected to be completed on 1 August 2017 and 1 November 2017, respectively. Hemsö’s portfolio in Finland comprises after the transactions 22 properties with an underlying value of approximately EUR 217M.