Kinland acquires three social infrastructure properties in Sweden, Norway and Finland

The transaction comprise one preschool property in each of Sweden, Norway and Finland, all of which are newly built and let to a leading operator on long-term triple-net lease agreements.

Oslo, 9 October 2024

Kinland AS (“Kinland”) is pleased to announce signed agreements for the acquisition of three social infrastructure properties (the “Transaction”) from an undisclosed seller. The Transaction comprise one preschool property in each of Sweden, Norway and Finland. The properties are newly built with a high technical and environmental standard and are let to a leading operator on long-term triple-net lease agreements.

Two of the properties will be closed during Q4 2024 and the third property has an estimated hand-over during H1 2025.

Kinland is a leading owner of key social infrastructure assets in the Nordic region and continental Europe. With the closing of the Transaction, Kinland will have undertaken a total of 26 bolt-on acquisitions after it was acquired by a consortium of institutional investors in October 2019.

Since its original acquisition in 2019, Kinland’s management team has further strengthened the group as the leading provider of government-backed social infrastructure within its geographical segments. Following the Transaction, Kinland will own and manage a portfolio of 370 properties, representing more than 110% growth since its inception both number of units and gross property values. The growth has been particularly strong in Finland, and Kinland sees great potential to further grow its footprint in Sweden over the coming years.

These bolt-on acquisitions further substantiate Kinland’s ambitions for enhancing our essential societal role as a leading provider of social infrastructure across the Nordics and continental Europe. With this transaction that is at the core of our investment strategy, we continue to strengthen our position as a leading provider of preschool facilities in the Nordics. We continue to see great opportunities for further growth and consolidation within the Nordic preschool sector. This goes especially for Finland where we have established a leading market position, but also in Sweden that has a large addressable market and where we can further leverage our superior sector knowledge and financing capabilities.”, said Benjamin Thorsen, CEO of Kinland.

Deloitte is acting as legal, financial and tax adviser, and WSP is acting as technical adviser, to Kinland in the Transaction.

Kinland

Kinland is a social infrastructure company providing high-quality properties for government-backed care services. The company owns 367 properties prior to the Transaction, providing a safe and quality environment needed for the care of approx. 30,000 people across the Nordic region and continental Europe.

Our properties have during recent years played an important role in developing the preschool and care sectors through improved capacity, quality, and cost-efficiency. We view social infrastructure properties as a cornerstone of the welfare systems in the countries in which we operate, promoting work participation, gender equality, equal opportunities, and integration. Through our long-term institutional and pension fund owners, we aim to be a solid and reliable partner to our tenants and the end-users of our properties.

For more information:

Benjamin Thorsen, CEO

Telephone: +47 480 16 142, e-mail: benjamin.thorsen@kinlandgroup.com

Teodor Coucheron-Gautier Teigen, CFO

Telephone: +47 924 09 742, e-mail: teodor.teigen@kinlandgroup.com

Andreas Wassdal, Chief Operating Officer

Telephone: +47 936 65 080, e-mail: andreas.wassdal@kinlandgroup.com

www.kinlandgroup.com

Date: 9. oktober 2024