Hemfosa Fastigheter enters Finnish market – acquires two community service properties at a value of approximately MSEK 500
Hemfosa is taking an important step toward becoming a broader Nordic player in community service properties with the acquisition of two such properties in Helsinki. Hemfosa currently focuses on Sweden and has a growing property portfolio in Norway, where the first acquisitions took place at the start of the year.
Hemfosa has acquired the site leaseholds to two community service properties in the Helsinki area at an underlying property value corresponding to approximately MSEK 500. The seller is NV Property Fund I, whose investors are pension company Varma, life assurance company Nordea Livförsäkring Finland and the Finnish State Pension Fund. The properties encompass a total of approximately 37,000 sqm of leasable area, and are fully leased with an average remaining lease length of 8.6 years. Annual rental income amounts to approximately MSEK 42. The transaction will be financed with equity and bank loans. Possession will be taken on December 18, 2015.
“The acquisition in Finland is both an important and exciting step forward for Hemfosa. With this establishment in the Finnish market, we will become a broader Nordic player, while we will further strengthen our position in community service properties. We also see opportunities for continued growth in Finland, where the market for community service properties is in many respects similar to the Swedish and Norwegian markets,” says Stina Lindh Hök, Head of Transactions at Hemfosa.
In one of the properties, the Finnish Blood Service conducts national operations by supplying blood products to the Finnish healthcare sector. The second property is leased by HAAGA-HELIA University of Applied Sciences. Alongside the educational facilities, the property also houses a hotel in the Best Western chain, in which the college conducts some operations.
For further information, please contact:
Stina Lindh Hök, Head of Transactions, stina.lindh.hok@hemfosa.se, mobile +46 70 577 18 85
Switchboard +46 8 448 04 80
About Hemfosa Fastigheter
Hemfosa is a Swedish property company with a well-balanced and geographically diversified property portfolio focusing on a high proportion of community service properties with the State and municipalities as the largest tenants. This provides stable cash flows and a healthy yield. In order to create value, Hemfosa also aims to actively participate in the transaction market. At September 30, 2015, Hemfosa owned commercial properties in Sweden with a total property value of approximately SEK 30.8 billion, including the company’s share of the property value in joint ventures. The company’s common share has been listed since March 2014, and the preference share since December 2014, both on Nasdaq Stockholm. Read more at www.hemfosa.se.
Tags: