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PPI Public Property Invest AB has agreed to acquire a new ESG-compliant care property in Hervanta, Tampere, Finland, for around EUR 23.3 million as part of its continued expansion in the Nordic social infrastructure sector. The facility will be developed by Hartela Oy under a turnkey agreement and will provide 149 care places for elderly and special care services. The acquisition follows PPI's recent investments in Finland and is expected to strengthen its recurring rental income while expanding its presence in one of the country's fastest-growing cities.
PPI Public Property Invest AB has signed an agreement to acquire a high-quality ESG-compliant care property in the Hervanta district of Tampere, Finland, for approximately EUR 23.3 million. The property will be developed by Hartela Oy under a turnkey agreement and forms part of the company's strategy to expand its portfolio of social infrastructure assets across the Nordic region.
The planned facility will include 149 care places. Of these, 89 places will be leased to Esperi Care, while Rinnekodit will occupy the remaining 60 places. The property will cater to elderly care as well as services for special care groups. Construction is scheduled to begin in September 2026, with completion expected in November 2027.
Once operational, the asset is expected to generate annual net operating income (NOI) of around EUR 1.5 million, reflecting a net yield of 6.45%. PPI's Chief Investment Officer, Ilija Batljan, said the acquisition further strengthens the company's Finnish social infrastructure portfolio. He added that Tampere is one of Finland's fastest-growing cities and remains a strategic location for the company, while also noting that PPI was pleased to continue its partnership with Hartela.
The transaction comes shortly after PPI expanded its footprint in Finland by agreeing to acquire a care property in central Helsinki for EUR 9.2 million. That property is fully leased to the City of Helsinki and provides rehabilitation and housing services for mental health patients. These acquisitions reflect the company's continued focus on long-term investments in healthcare and social infrastructure properties across the Nordic region.
Source Reuters
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