Kinland AS, with its manager Whitehelm Capital, has entered into an agreement to acquire a total of 12 social-infrastructure properties in Finland in two separate transactions.
The first transaction comprises nine properties acquired from a leading industrial developer, including seven preschool units, one elderly care unit and one child-protection unit. The properties in the first transaction primarily are located in Finland’s the largest cities and are let on a long-term basis to leading operators. The second transaction comprises three social-infrastructure properties located in the Tampere metropolitan area, acquired from a variety of sellers, and includes two preschool units and one elderly care unit. The properties in the second transaction are also let to strong operators and have a weighted average unexpired term of nearly 18 years. The two acquisitions amount to a total gross property value of €37 million ($42 million).
The acquisitions are expected to be