Stockholm-headquartered property company Samhällsbyggnadsbolaget i Norden (SBB) has paid €222 million for a portfolio of nursing and care homes in Finland in what is the country’s largest ever deal in the healthcare real estate sector.
The portfolio, which comprises about 71,000 sq m space, produces a rental income of €13.6 million. The deal will increase the social infrastructure-focused SBB’s profit from property management on a 12-month rolling basis by SEK 136 million (€13 million).
Most of the properties in the portfolio are located in southern and western Finland with 25%of the value of properties concentrated in the Helsinki region.
Retirement homes make up 60% of the portfolio, 20% are special care homes and 20% is educational property.
SBB has financed the acquisition from its own funds. “We continue to strengthen our position in Finland and in line with our strategy to increase the number of nursing homes in our own administration,” said SBB founder and CEO Ilija Batljan.