Kinland to acquire eQ Group's social infra portfolio
eQ Group has announced the divesting of 28 properties to Kinland AS (Kinland), which are mainly care service and preschool properties, through its eQ Community Properties Fund in Finland.
The EUR76 million (US$80 million) transaction is to be completed in two tranches, by the end of 2022 and the beginning of 2023. The EQ Community Properties portfolio will have 133 objects in comparison with a previous amount of 166, but the size of the object will increase. Kinland will act as the owner of social infrastructure objects.
The cost of EQ Community Properties Fund is EUR2.2 billion (US$2.3 billion) at the end of September 2022. The fund owns and develops social infrastructure in Finland. Kinland owns social infrastructure in the northern countries.
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