Hemsö Finland

Hemsö entering Finland

Hemsö entered the Finnish market in 2013 through the acquisition of the Turku University of Applied Sciences in Finland for SEK 323 million. The tenant is the City of Turku, with a remaining contract term of 15 years. The property is located in a growth area in Turku and has recently been totally renovated. The lettable space is 16,300 square metres.

As part of the growth strategy, Hemsö also carried out additional property transactions in Finland in February 2014. A portfolio of 15 properties comprising care facilities and residences for the elderly was acquired for SEK 864 million.

Focus on the Helsinki region

Half of the acquired properties are located in the Helsinki region and the remainder is mainly in larger Finnish cities. Tenants comprise municipality companies and a number of well-established private businesses. The largest tenant is Esperi Care, followed by Mediverkko. The remaining average contract term is approximately seven years. The properties in the acquired portfolio mainly comprise care facilities and residences for the elderly. The lettable space is a total of almost 40,000 square metres.

Management of all the properties will initially take place in collaboration with the Finnish management company, Ovenia.

In August 2014, Jarkko Leinonen became the Head of the Finnish operations.