Real Estate & Construction / 20 Dec 2020

Borenius advised Ilmarinen on the EUR 82 million sale of a healthcare property portfolio to Hoivatilat

We advised Ilmarinen on the EUR 82 million sale of a portfolio of ten healthcare properties in Finland to Hoivatilat, a subsidiary of Aedifica. The portfolio contains 542 units and a diversified pool of six local and national operators and other tenants.

The ten care properties included in this portfolio have excellent locations in nine cities across Finland (Jyväskylä, Kaskinen, Kotka, Nokia, Oulu, Seinäjoki, Teuva, Vaasa and Vantaa). Constructed between 2009 and 2018, the buildings are modern and purpose-built care properties. The four sites located in Nokia, Jyväskylä, Kotka and Teuva are specialist care homes that cater to people with disabilities, while the five care homes in Kaskinen, Vaasa, Oulu and Seinäjoki are specifically designed to suit the needs of elderly people who require continuous care. The care campus in Vantaa, on the other hand, accommodates elderly people but also includes residential apartments and a commercial area on the ground floor.

Ilmarinen is Finland’s largest private earnings-related pension insurance company. As a mutual pension insurance company, Ilmarinen is wholly owned by its customers. Ilmarinen’s task is to ensure that its customers receive the pension they have earned during their years in working life. Ilmarinen offers statutory employees’ and self-employed persons’ pension insurance for employers and entrepreneurs operating in Finland.

Hoivatilat is a service company that specialises in the construction, ownership and rental of day care centres, schools, care facilities and service communities. Hoivatilat’s business has a significant social dimension. Its basic mission is to create a better society and service environments together with their partners. Hoivatilat is part of the Aedifica Group, whose parent company Aedifica is listed in Brussels and Amsterdam. The headquarters of Hoivatilat is located in Oulu. In addition, Hoivatilat has offices in Espoo, Finland and Stockholm, Sweden.

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