Kinland, a portfolio company of Whitehelm Capital, is planning to acquire a portfolio of 29 preschool properties from Pioneer Property Group International AS (PPG) and Norlandia Health & Care Group. The portfolio consists of properties in Norway, Finland, Sweden, Poland and the Netherlands.
The takeover by Kinland is expected to be carried out in several tranches. The first tranche should be completed this month, and the remaining tranches should follow in 2021.
Kinland owns important social infrastructure assets in the Nordic region. With the takeover of the preschools from PPG and Norlandia, Kinland's portfolio increases to 208 preschools and eight nursing homes in Norway, Finland, Sweden, Poland and the Netherlands. The 29 preschools to be acquired are all in residential areas with favorable demographic conditions.
The takeover takes place in a sale-leaseback process, in which Norlandia remains the operator of the properties on the basis of long-term rent
