Yahoo Finanza eQ Community Properties Fund divests 28 properties for 76 million euros
Press Release
15 December 2022, 9:00 am
eQ Community Properties Fund divests 28 properties to Kinland AS (“Kinland”), which are mainly care service and preschool properties. The purchase price is approx. 76 million euros. The deal is to be completed in two tranches, by the end of 2022 and the beginning of 2023. The Norwegian Kinland is one of the established social infrastructure owners in the Nordics.
eQ Community Properties Fund was established in 2012 and has developed and grown strongly - the value of the assets managed by the Fund amounted to 2.2 billion euros at the end of September 2022. The fund is the largest private social infrastructure owner and developer in Finland. The properties are located in the capital region and in selected growth centers. The assets owned by the Fund are well distributed by both location and segment in Finland.
"The transaction is a strong indicator of the functionality and activity of the market. The capital and profit gained by this transaction will be invested in new developments and acquisitions. The transaction will shape eQ Community Properties’ portfolio towards our target allocation. With the transaction, the Fund further strengthens its position as an owner and developer of larger and centrally located community properties and as a partner of public users. The number of properties in the portfolio will decrease from 161 to 133, and at the same time the unit size will increase, making the Fund's operations more efficient. Kinland, as a buyer, is a respected player as an owner of social infrastructure properties." says Tero Estovirta, Head of Real Estate Investments at eQ Asset Management.
Helsinki 15 December 2022
eQ Asset Management Ltd
Further information:
Tero Estovirta, Head of Real Estate Investments, eQ Asset Management Ltd, +358 50 593 6194, tero.estovirta@eQ.fi
eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 12.3 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on our website at www.eQ.fi.
