Hartela Oy will construct the properties under a turnkey agreement. Construction of the properties will commence during 2025, with estimated completion dates between autumn 2026 and spring 2027. The properties will comprise a total combined lettable area of approximately 8,000 sqm and will provide modern care facilities serving the growing demand for elderly care services in the Greater Helsinki area and Turku region.

The portfolio comprises a total of 195 care places leased to well-established tenants: 75 care places in Kirkkonummi leased to Attendo, and 60 care places each in Kaarina and Lieto leased to Kototiimi Oy. All properties are secured with 15-year lease contracts. Upon completion, the properties are expected to generate combined annual net rental income of approximately EUR 1.85 million.

All three developments are designed to meet high environmental standards and will achieve an EPC A rating and comply with EU taxonomy sustainability criteria, demonstrating PPI's commitment to sustainable property investment.
"These acquisitions represent attractive additions to our Finnish care property portfolio and demonstrate our commitment to grow and develop our critical social infrastructure portfolio across Finland. By investing in modern care facilities in growing regions, we help provide essential services to local communities while creating stable, long-term returns for our shareholders. Furthermore, we are pleased to establish cooperation with Hartela for development within this segment in Finland," says Ilija Batljan, CIO of PPI.

The transactions will be completed during Q4 2025, and development costs will be incurred in line with the completion rate.

For further information, contact:
Ilija Batljan, CIO
ilija@publicproperty.no