Public Property Invest

PPI continues its growth in Finland with a sizeable investment in Espoo

Public Property Invest ASA ("PPI") has acquired a life science property under

development in Otaniemi university campus area in Espoo. The property will be

completed by the end of 2026 and will be mostly new-built and partly fully

renovated according to modern standards and high ESG targets. The total

lettable area will be approximately 15,700 sqm and it is fully pre-let to

Relex Solutions and HOK-Elanto on long-term lease agreements with an average

unexpired lease term of over 10 years.

With this acquisition PPI strengthens its presence in the Helsinki

Metropolitan Area. The total investment cost at completion will be EUR 79

million, which will be paid successively according to the completion rate, of

which EUR 10 million at closing expected on 30 April 2025. The annual net

operating income at completion is estimated to be approximately EUR 4.9

million.

"We are delighted to see PPI's active growth especially in Espoo. We warmly

welcome a long-term investor partner to enable further growth in the business

life and critical infrastructure of Espoo and Finland", comments Olli

Isotalo, Deputy Mayor, Urban Environment Director, City of Espoo.

"Acquisition of the neighboring asset to the school we acquired earlier this

year is a great addition to our portfolio within critical infrastructure in

Finland. The acquisition is also continuing our good cooperation with the

developer HGR Property Partners. We want to enable growth and efficiency to

our important stakeholders and partners through strategic and long-term real

estate investments", says Ilija Batljan, CIO of PPI.

At completion, the property will have superior ESG credentials: A-level energy

class, a LEED Platinum environmental certification and WELL Platinum

certification will be pursued. Additionally, on-site energy production will be

developed, for example in form of solar panels.

Contact

Ilija Batljan

CIO

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