Kinland has entered into an agreement to acquire a total of 13 social infrastructure properties in Finland in three separate transactions.
Oslo/London, 25 March 2022
Kinland AS (“Kinland”) and PATRIZIA Infrastructure (“PATRIZIA”) are pleased to announce that Kinland has signed and closed a total of 13 social infrastructure properties in Finland in three separate transactions. The 13 properties include eleven preschool units, one elderly care property and one psychiatric care unit. The main transaction comprises ten preschool properties acquired from a fund managed by Taaleri Private Equity Funds. The properties are located across various regions of Finland and are let to strong operators (both private and public) on very long-term leases (~14 years WAULT). The second transaction includes two units acquired from Hoivarakentajat Oy, of which one elderly care unit and one psychiatric care unit, also with very long lease contracts (~15 years WAULT). The third transaction is a preschool unit let to a leading operator on a 15-year lease.
The three acquisitions amount to a total gross property value of EUR 36.5 million.
Kinland is a leading owner of key social infrastructure assets in the Nordic region and continental Europe. The transactions are the tenth, eleventh and twelfth bolt-on acquisitions undertaken by Kinland after it was acquired by a consortium of PATRIZIA investors in October 2019.
Since its original acquisition, PATRIZIA has worked closely with Kinland’s management team to further strengthen Kinland as the leading provider of government-backed social infrastructure within its geographical segments. Following these transactions, Kinland will own and manage a portfolio of 277 properties, which represents approximately 60% growth since the acquisition of Kinland.
“These further bolt-on acquisitions confirm Kinland’s ambitions for enhancing our essential societal role as a provider of social infrastructure across the Nordics and continental Europe as well as PATRIZIA’s commitment to support Kinland’s long-term growth. We are excited about continuing our strong growth trajectory in Finland, having doubled our asset base since year-end 2020, as well as strengthening our position as one of the leading owners of social infrastructure in this important region”, said Benjamin Thorsen, CEO of Kinland.
“The acquisition of these portfolios of preschools and care facilities is consistent with the strategy of Kinland to develop a meaningful social infrastructure platform. At PATRIZIA, we are long-term investors, and we will continue to build upon Kinland’s mission to ‘Invest Where People Live’. We are very pleased to be supporting local communities by providing a high-quality environment for essential services that are used by thousands of people on a daily basis” said Graham Matthews, Chief Executive of PATRIZIA Infrastructure Ltd. and Chairman of the Board of Kinland.
Deloitte acted as legal and financial adviser, and WSP acted as technical adviser, to Kinland in the acquisitions.
Kinland is a social infrastructure company providing high-quality properties for government-backed care services. The company owns 277 properties, providing a safe and quality environment needed for the care of more than 23,000 people across the Nordic region and continental Europe.
PATRIZIA Infrastructure, a part of PATRIZIA AG, is one of the world’s most experienced independently-owned infrastructure managers.
With an outstanding track record spanning over 24 years, PATRIZIA Infrastructure has invested over EUR 8 billion in more than 110 infrastructure investments and has more than EUR 5 billion in assets currently under management. PATRIZIA Infrastructure has achieved strong returns across multiple market cycles, with an exceptional record of capital preservation. PATRIZIA Infrastructure offers investment capabilities across unlisted infrastructure, listed infrastructure, infrastructure debt, and advisory.
The development of Kinland extends PATRIZIA’s long history of successfully providing key infrastructure to local communities. In Norway, this includes not only the investment in Kinland, but also Kvitebjørn Varme, the operator of Tromsø’s district heating network, and SAREN Energy, a sustainable renewable energy platform with presence in Sarpsborg and Fredrikstad. Other recent PATRIZIA investments include UK-based smart city developer Connexin and Vopak Solar Park Eemshaven, a 25MW solar farm in The Netherlands, as well as Ecotermica e Servizi (ETS), a platform of district heating plants in Italy.
PATRIZIA Infrastructure focuses on working with local communities to provide sustainable infrastructure that meets the highest Environment, Social and Governance standards. PATRIZIA Infrastructure is proud to be a signatory to the United Nations-backed Principles for Responsible Investing (UNPRI), The Task Force on Climate related Financial Disclosures (TCFD), UN Global Compact and a member of GRESB infrastructure.
For more information:
Graham Matthews, Head of Infrastructure
Telephone +44 207 183 6120, e-mail: firstname.lastname@example.org
Benjamin Thorsen, CEO
Telephone: +47 480 16 142, e-mail: email@example.com
Teodor Coucheron-Gautier Teigen, CFO
Telephone: +47 92 40 97 42, e-mail: firstname.lastname@example.org
Andreas Wassdal, Portfolio Director
Telephone: +47 936 65 080, e-mail: email@example.com