3.6.2015

OP-Rental Yield – One of Finland’s Largest Real Estate Portfolio Transactions in the 21st Century

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Real Estate Investments & Transactions

We advised OP-Rental Yield, an OP-Pohjola non-UCITS fund, in its purchase of a 1,200-residence real estate portfolio from Ilmarinen. This is one of the largest real estate portfolio transactions in Finland in the 21^st century. The deal was closed on 2 June 2015.

The portfolio covers 28 housing companies, which in addition to apartments include a small number of leased ground-floor commercial premises. Nearly all of the properties were built in the 1990s and 2000s, and they are in excellent locations in 15 municipalities. Approximately 95% of the cash flow is from properties located in regional growth centres and university towns, such as Helsinki, Turku, Kuopio, Jyväskylä and Oulu.

Latest references

OP-Public Services Real Estate Fund – Sale of six care properties

We advised OP-Public Services Real Estate Fund in the sale of a portfolio of six care properties to Aedifica group, a Belgian real estate company specialised in European healthcare real estate, particularly in elderly care. The care properties in this portfolio are located across Finland in Helsinki, Tampere, Kuopio, Tuusula and Kirkkonummi. The portfolio has a total capacity for 233 residents. Aedifica group acquired 100% of the shares of the six real estate companies that own the properties. The total value of the transaction is approximately EUR 37.5 million.

eQ Commercial Properties Fund – Sale of a fully let light industrial property

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Pihlajalinna – Sale of special housing services

We advised Pihlajalinna Plc on an arrangement whereby Pihlajalinna Terveys Oy and Ikipihlaja Setälänpiha Oy sold their special housing services business to Esperi Care Oy. The transaction involved three Pihlajalinna Uniikki units in Hämeenlinna, Lohja and Riihimäki as well as Ikipihlaja Oiva in Raisio. As a result of the arrangement, more than 100 employees transferred to Esperi. Pihlajalinna is one of Finland’s leading private providers of social and healthcare services, offering a wide range of services to both private and public sector clients. Pihlajalinna has more than 160 locations across Finland.

eQ Community Properties Fund – Sale of two healthcare properties

We assisted eQ Community Properties Fund in the sale of two healthcare properties to a fund managed by Northern Horizon. The properties have a total floor area of approximately 3,500 square meters. The two properties are located in Espoo and Lahti. The Espoo asset was completed in 2018 and the Lahti asset was completed in 2023. Both assets are operated by Attendo, the leading care provider in the Nordic region.

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