PPI acquires a school and pre-school in central Helsinki in Finland

07 Mar 2025 14:48 CET

Public Property Invest ASA ("PPI") has through its subsidiaries acquired an
elementary school project in central Helsinki. The project is fully pre-let
and will be completed by the end of 2026. The total investment cost is
approximately EUR 27.5 million and generates a net initial yield of ca. 6.2%
at completion.

The total lettable area is approximately 5,000 sqm and is fully let to the
city of Helsinki and a private school. The property will be fully renovated
according to modern standards and high ESG targets. Annual net operating
income at completion is estimated to be approximately EUR 1.7 million. The
lease agreements have an average unexpired lease term of over 22 years.

"This acquisition in central Helsinki is a great next step on our growth path
in Finland and increases the quality of our portfolio. The cooperation with
the developer HGR Property Partners also initiates interesting future
possibilities. We continue looking for attractive investment possibilities in
Finland and of course the rest of our core markets", says Ilija Batljan, CIO
of PPI.

Contact
Ilija Batljan
CIO
ilija@publicproperty.no

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