Public Property Invest

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

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

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