Hemfosa Fastigheter acquires community service property in Norway at a property value of MNOK 160
Hemfosa Fastigheter has acquired a property that is currently the LHL’s Feiring Clinic in Eidsvoll Municipality in Norway at an underlying property value of MNOK 160. The Feiring Clinic is operated by the membership organization, the Norwegian Heart and Lung Association (“LHL”). The seller is LHL, which in connection with the transaction, has also signed a 15-year lease as a tenant to the property. This acquisition further strengthens the already established cooperation between Hemfosa and LHL.
Hemfosa has acquired the property that currently houses the LHL Feiring Clinic, a specialist hospital for the diagnosis, treatment and rehabilitation of adults with heart conditions. LHL, which runs the operation, has signed a 15-year lease with Hemfosa. LHL will relocate its current operations to the new hospital being built by Hemfosa and Aspelin Ramm at Gardemoen, of which Hemfosa will be 100-percent owner upon completion. LHL plans to continue to use parts of the property in Feiring for rehabilitation, but also plans to lease other space for school operations.
Transfer occurred on July 6, 2017. The total leasable area is approximately 16,000 sqm, with annual rent revenue of approximately MNOK 12. LHL is the tenant of the entire leasable area.
“LHL is delighted that Hemfosa is the buyer of the property. Hemfosa also owns the LHL-hospital near Gardermoen and, as a result, we already have good relations with Hemfosa. By way of a long-term sale & leaseback agreement, we can release capital for further development, at the same time as we can have the Feiring property at our disposal for new activities that will benefit LHL and the local community,” says Frode Jahren, General Secretary of the LHL.
“We look forward to further developing our favorable cooperation with LHL, which we regard as the leading player in health and rehabilitation. The acquisition of property that is currently the Feiring Clinic is highly compatible with our profile and we look forward to supporting LHL with its future activities also in Feiring,” says Simon Venemyr Ottersland, COO of Hemfosa Norge.
For further information, please contact:
Simon Venemyr Ottersland, COO Norway, simon.ottersland@hemfosa.no, mobile phone +47 917 95 216
About Hemfosa Fastigheter
Hemfosa is a Swedish property company focusing on community service properties in the Nordic region with its largest tenants being the Swedish state and municipalities. This provides stable cash flows and a healthy yield. In order to create value, Hemfosa also aims to actively participate in the transaction market. As per March 31, 2017, Hemfosa owned properties with a total property value of approximately SEK 35.8 billion. The company’s ordinary share has been listed since March 2014, and the preference share since December 2014, both on Nasdaq Stockholm. Read more at www.hemfosa.se.