Kinland Builds up Social Infrastructure Portfolio in Finland

Posted on 01/03/2022

Kinland AS entered into an agreement to acquire a total of 12 social infrastructure properties in Finland in two separate transactions. The first transaction comprises nine properties acquired from an industrial developer, including seven preschool units, one elderly care unit and one child protection unit. The properties in the first transaction are primarily located within the largest cities of Finland and are let to leading operators on long-term leases. The second transaction comprises three social infrastructure properties located in the Tampere metropolitan area, acquired from a variety of sellers, and includes two preschool units and one elderly care unit. The properties in the second transaction are also let to strong operators and have a weighted average unexpired lease term of nearly 18 years. The two acquisitions amount to a total gross property value of 37 million euros. Following these transactions, Kinland will own and manage a portfolio of 264 properties. The transactions are the sixth and seventh bolt-on acquisitions undertaken by Kinland after it was acquired by a consortium of Whitehelm Capital Ltd. investors in October 2019.

Kinland is a portfolio company of Whitehelm Capital.

Deloitte acted as legal and financial advisor to Kinland in the acquisitions.

In June 2021, Kinland entered into an agreement to acquire a portfolio of 30 properties from Nordic Social Infrastructure Invest AS (NSII), a company managed by Oslo Capital Partners AS (OCP). The portfolio consists of preschool and care properties in Norway and Finland, and has a total gross property value of approximately NOK 1.4 billion. The acquisition will be funded with equity from existing and new investors, as well as debt facilities from leading international banks and institutional bond investors.

In 2019, PPG ASA (Pioneer Property Group ASA) sells 90% of Kinland AS to a consortium of institutional investors managed by Whitehelm Capital.

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