PPI acquires portfolio of seven nursing homes for elderly care in Norway

02 Jun 2025 07:00 CEST

Public Property Invest ASA ("PPI") has acquired a portfolio of seven nursing
homes for elderly care for a total value of NOK 410 million, which partially
will be settled in cash and partially in shares.

The properties total approximately 18,230 sqm and are all located in Oslo and
the greater Oslo area. Annual rent is NOK 30 million and the properties are
fully leased to Skaar Omsorg on a triple net lease contract with a duration of
35 years.

"This transaction gives us a good foothold within elderly care and an
opportunity to position PPI as an important contributor within this segment.
The ageing population in Norway is expected to grow significantly over the
coming years and as such also the demand for senior housing and nursing
homes", says Ilija Batljan, CIO of PPI.

"Skaar Omsorg has provided nursing homes for elderly care through four
generations and is an important partner to the public sector within this
segment. We are very pleased to team up with a professional and financially
strong partner in PPI. This will enable us to continue growing our elderly
care offering together with PPI in the years to come", says Richard Skaar
Thorsrud, CEO in Villa Skaar/Skaar Omsorg.

The transaction is expected to close on 1 July 2025.

Contact
Ilija Batljan
CIO
ilija@publicproperty.no

More information:
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