Pioneer Property Group ASA

M&A Activity • Mar 2, 2018

Acquisition of nine properties in Finland

Acquisition of nine properties in Finland

Pioneer Property Group ASA's subsidiary Pioneer Public Properties Finland Oy has today entered into a definitive sales and purchase agreement to acquire nine properties in Finland for a total property value of MEUR 25.7 with annual rental income of MEUR 1.6. The properties have been acquired from Cor Group Oy and Cordis Oy. Eight of the properties are preschools, leased to operator Touhula, and one property is elderly care leased to operator Coronaria. The lease contracts are triple-net contracts with an average length to expiry of thirteen years plus five-year options. The acquisition is fully funded with a loan from Pareto Bank.

Enquiries

Martin P. Hoff, CFO

+47 47214721

www.pioneerproperty.no