Kinland continues its strong growth trajectory in Finland by acquiring 28 high-quality social infrastructure units from eQ Community Properties. In addition to having tripled our footprint in Finland over the last two years, Kinland has now grown more than 80% since the company was acquired by a consortium of institutional investors managed by PATRIZIA in late 2019. After the transaction, Kinland will own 314 properties, strengthening the company’s position as a leading provider of mission-critical social infrastructure in the Nordics.
Oslo, 15 December 2022
Kinland AS (“Kinland”) is pleased to announce that it has signed an agreement to acquire 28 social infrastructure properties (the “Portfolio”) from eQ Community Properties (the “Transaction”).
The Portfolio consists of 18 preschool properties and 10 care sector properties. A large majority of the properties are located in or around the largest cities of Finland and are primarily let to leading operators in their segments, on long-term leases.
The Transaction has a total gross property value of EUR 76 million. The closing of the Transaction will take place in two stages. The first tranche of the Transaction, which includes 12 properties, is expected to close on or about 30 December 2022. The second tranche, which includes the remaining 16 properties in the Transaction, are expected to be closed within Q1 2023.
Kinland is a leading owner of key social infrastructure assets in the Nordic region and continental Europe. The Transaction is the sixteenth bolt-on acquisition undertaken by Kinland after it was acquired by a consortium of institutional investors in October 2019, and the second largest completed bolt-on acquisition, measured in gross property value, since that date.
Since its original acquisition, 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 up to 310+ properties, which represents more than 80% growth since the inception of Kinland. The growth has been particularly strong in Finland, where Kinland has tripled its size from 47 to 142 social infrastructure units over the last two years.
“This large bolt-on acquisition further substantiates Kinland’s ambitions for enhancing our essential societal role as a leading provider of social infrastructure across the Nordics and continental Europe. With this significant transaction we continue to strengthen our position as a leading provider of both daycare and care facilities in Finland, as well as our on-going efforts in building a local organization in Helsinki, Kinland is looking forward to accelerating this growth even further. We are also enthusiastic about doing our first deal with eQ Community Properties, a leading and highly reputable owner of social infrastructure in Finland, and we are thankful for the great cooperation throughout the Transaction”, said Benjamin Thorsen, CEO of Kinland.
Deloitte acted as legal, financial and tax adviser, and WSP acted as technical adviser, to Kinland in the acquisition.
Kinland is a social infrastructure company providing high-quality properties for government-backed care services. The company owns 310+ properties, providing a safe and quality environment needed for the care of more than 25,000 people across the Nordic region and continental Europe.
Our properties have during the later 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 capital 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: firstname.lastname@example.org
Teodor Coucheron-Gautier Teigen, CFO
Telephone: +47 92 40 97 42, e-mail: email@example.com
Andreas Wassdal, Portfolio Director
Telephone: +47 936 65 080, e-mail: firstname.lastname@example.org