Hemsö acquires minority shareholding in University Properties of Finland Ltd (SYK)
Hemsö is acquiring 1.53 per cent of the shares in University Properties of Finland Ltd and will become a minority shareholder. The investment amount is EUR 15 million, or EUR 389 per share.
University Properties of Finland (Suomen Yliopistokiinteistöt Oy, SYK) is owned by the Finnish state and the nine universities that also rent the premises of the properties owned and managed by SYK. Hemsö has negotiated with the University of Vaasa to acquire its shareholding of 1.53 per cent, and thereby will become the first private shareholder.
“SYK is a great company with an excellent campus portfolio and a unique role in Finnish university education and research, as well as innovation infrastructure. We are very happy about becoming a shareholder and to be making a further contribution to the company’s development in an exciting phase ahead,” says Jarkko Leinonen, Head of Region, Finland at Hemsö.
“I am very pleased now that the long-term and strategy-driven process has been concluded. It’s great that we have found a stable and professional buyer of SYK’s shares. The sale promotes the strategic objectives of the university. One of these is an ongoing campus project and the purchase consideration covers a significant portion of the budget of more that EUR 20 million,” says Jari Kuusisto, Rector of the University of Vaasa.
SYK owns 15 university campuses with around 110,000 students, comprising 210 properties in 11 cities across Finland. The property portfolio comprises a lettable area of 1.3 million sqm. The largest tenants include Tampere University, Tampere University of Technology, the University of Turku, the University of Oulu and the University of Jyväskylä.