PPI acquires portfolio of seven nursing homes for elderly care in Norway

Public Property Invest ASA (“PPI”) has acquired a portfolio of seven nursing homes for elderly care for a total value of NOK 410 million, which partially will be settled in cash and partially in shares.

The properties total approximately 18,230 sqm and are all located in Oslo and the greater Oslo area. Annual rent is NOK 30 million and the properties are fully leased to Skaar Omsorg on a triple net lease contract with a duration of 35 years. 

“This transaction gives us a good foothold within elderly care and an opportunity to position PPI as an important contributor within this segment. The ageing population in Norway is expected to grow significantly over the coming years and as such also the demand for senior housing and nursing homes”, says Ilija Batljan, CIO of PPI.

“Skaar Omsorg has provided nursing homes for elderly care through four generations and is an important partner to the public sector within this segment. We are very pleased to team up with a professional and financially strong partner in PPI. This will enable us to continue growing our elderly care offering together with PPI in the years to come”, says Richard Skaar Thorsrud, CEO in Villa Skaar/Skaar Omsorg.

The transaction is expected to close on 1 July 2025.