31 social infrastructure properties acquired by Kinland
Kinland AS announced that it has signed agreements to acquire a total of 31 social infrastructure properties from various sellers at the end of Q2 2023 in Finland.
The Transactions comprise 24 preschool properties and 7 care service properties that have a total gross property value of EUR70.4 million (US$76 million), split into 3 portfolios.
- The 1st transaction is the acquisition of 12 properties from Hoivatilat.
- The 2nd transaction is the acquisition of 15 properties from OP Public Services Real Estate Fund.
- The 3rd transaction is the acquisition of 4 properties from Hoivarakentajat, a constructor of energy-efficient and low-carbon log buildings.
Kinland is a prominent owner of critical social infrastructure assets in both the Nordic region and continental Europe. The financing for the Transactions will involve a combination of equity from current investors and an institutional senior debt facility provided by Edmond de Rothschild's BRIDGE debt platform. Deloitte acted as legal, financial and tax adviser, and WSP acted as technical adviser, to Kinland in the acquisition.
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