PPI continues its growth in Finland with a sizeable investment in Espoo

28 Apr 2025 13:00 CEST

Public Property Invest ASA ("PPI") has acquired a life science property under
development in Otaniemi university campus area in Espoo. The property will be
completed by the end of 2026 and will be mostly new-built and partly fully
renovated according to modern standards and high ESG targets. The total
lettable area will be approximately 15,700 sqm and it is fully pre-let to
Relex Solutions and HOK-Elanto on long-term lease agreements with an average
unexpired lease term of over 10 years.

With this acquisition PPI strengthens its presence in the Helsinki
Metropolitan Area. The total investment cost at completion will be EUR 79
million, which will be paid successively according to the completion rate, of
which EUR 10 million at closing expected on 30 April 2025. The annual net
operating income at completion is estimated to be approximately EUR 4.9
million.

"We are delighted to see PPI's active growth especially in Espoo. We warmly
welcome a long-term investor partner to enable further growth in the business
life and critical infrastructure of Espoo and Finland", comments Olli
Isotalo, Deputy Mayor, Urban Environment Director, City of Espoo.

"Acquisition of the neighboring asset to the school we acquired earlier this
year is a great addition to our portfolio within critical infrastructure in
Finland. The acquisition is also continuing our good cooperation with the
developer HGR Property Partners. We want to enable growth and efficiency to
our important stakeholders and partners through strategic and long-term real
estate investments", says Ilija Batljan, CIO of PPI.

At completion, the property will have superior ESG credentials: A-level energy
class, a LEED Platinum environmental certification and WELL Platinum
certification will be pursued. Additionally, on-site energy production will be
developed, for example in form of solar panels.

Contact
Ilija Batljan
CIO
ilija@publicproperty.no

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