PPI acquires two adjacent healthcare/community service properties in Finland

Public Property Invest ASA (“PPI”) has acquired two high quality, healthcare/community service properties in Helsinki in Finland for a total property value of EUR 63 million.

The properties were new built in 2019 and 2021 with a total lettable area of ca. 13,520 sqm. They are centrally located in the rapidly developing Tikkurila district, a prime location along the main rail line only ca 15 minutes from Helsinki CBD and only 5 minutes from Helsinki airport. The properties have direct access to the Tikkurila train station which is the third busiest train station in Finland. The properties are modern and flexible and are certified Breeam Very Good, Leed Platinum and with an EPC B. 

One of the properties is a hospital providing specialist health services and is fully let to Mehiläinen on a 12-year remaining lease contract. Mehiläinen is one of the largest and fastest growing private healthcare operators/hospitals in Finland. The second property is a fully let multi-tenant building with the City of Vantaa, Forenom, Nordea, Terveystalo and Kesko as the largest tenants and amongst other provides further expansion opportunities for Mehiläinen. Total gross rental income for both properties is approximately EUR 5.8 million.

“This acquisition will further increase our presence in central and attractive locations in the largest Finnish cities. The properties provide attractive risk adjusted returns for our shareholders and we see further value potential in both the properties, the existing tenant mix and the prime location in the Tikkurikla district in the greater Helsinki area”, says Ilija Batljan, CIO of PPI.

The transaction will be paid in cash and is expected to close on 30 May 2025.