Public Property Invest ASA (“PPI”) has acquired two property companies for a property value of NOK 223,5 million from Carucel Eiendom. The properties have a total size of approximately 7,050 sqm and are located in Oslo and Hurdal/Eidsvoll. They are fully let to Recovery Bo & Omsorg and Stendi which provide assisted living services in the field of substance abuse, mental health and physical disabilities. Annual rental income is NOK 16.6 million and the lease contracts are close to triple net, with an unexpired lease term of 16 years.

“PPI has a clear strategy to grow by being a leading consolidator of social infrastructure properties in the Nordics. These properties house important social institutions on long lease contracts and fit our portfolio strategy very well”, says Ilija Batljan, CIO of PPI.

“I have followed PPI since the IPO and I am impressed by the company's growth journey. It is exciting for us to see that the portfolio we have built, will now become part of PPI’s already strong base of social infrastructure in the Nordics”, says Carl Erik Krefting.

The transaction will be settled through a combination of NOK 140 million in cash and NOK 85 million in new shares in PPI at a share price equivalent to NOK 18.5 per share. The total number of new shares to be issued is 4,594,620, and the resolution to issue such new shares will be made at closing of the transaction. The transaction will close on the 3^rd of April 2025.