Hemfosa has made acquisitions in all three markets for a total underlying property value of approximately MSEK 575 and annual rental income of about MSEK 42. The acquisitions in Sweden and Norway complement the existing portfolio in locations where Hemfosa already owns properties and offer potential for development. Hemfosa is also entering the preschool segment in Finland with the acquisition of four preschools in Oulu.
Acquisitions in Sweden
In Motala, Hemfosa acquired four properties totaling about 12,800 square meters. These properties are situated in central Motala and house schools, public-sector offices and commercial offices. The tenants include the Municipality of Motala and AcadeMedia. The average remaining lease term is 2.2 years. Occupancy is scheduled to take place on June 3, 2019.
Acquisitions in Norway
In Tønsberg and Sarpsborg, both in the greater Oslo region, Hemfosa acquired two properties comprising five buildings in a prime location totaling about 16,100 square meters. The fully leased properties have a remaining lease term of 9.5 years and the tenants include the Norwegian Directorate for Civil Protection, the Norwegian Directorate of Elections, the Diocese of Tønsberg and the Norwegian Labor and Welfare Administration. The close proximity to Hemfosa’s existing properties creates significant synergy effects, while both properties offer the potential for development by expansion. Occupancy took place in December 2018 and April 2019.
Acquisitions in Finland
Hemfosa also acquired four preschools in Oulu, the fifth largest town in Finland situated in the rapidly growing region of North Ostrobothnia. The leasable area amounts to 1,600 square meters and the average remaining lease term is 12.9 years. The properties are fully leased to Touhula, the largest private preschool company in Finland. Occupancy took place in February 2019.
“We are delighted that we have made acquisitions in all three of our markets. The aim is to maintain a high pace in the acquisition market and we are continuing to evaluate a large number of transactions. We are also pleased that we are entering a new and attractive region for us in Finland with the acquisition of a small portfolio of modern preschool properties with long leases in the rapidly growing Oulu region,” comments Caroline Arehult, CEO of Hemfosa.
For further information, please contact:
Anna Alsborger, Head of Transactions, mobile +46 70 979 45 72, [email protected]
Caroline Arehult, CEO, mobile +46 70-553 80 26, [email protected]