Kinland will acquire a portfolio preschool and care properties in Norway and Finland from Nordic Social Infrastructure Invest (NSII), a company managed by Oslo Capital Partners (OCP).
The portfolio consists of 30 properties, and has a total gross property value of approximately NOK 1.4 billion.
The preschool and care properties from NSII includes 19 preschools, 10 care properties and one public office across Norway and Finland.
The acquisition of the portfolio from NSII is the fifth bolt-on acquisition undertaken by Kinland after it was acquired by a consortium of Whitehelm investors in October 2019.
The deal will be funded with equity from existing and new investors, alongside debt facilities from leading international banks and institutional bond investors. It is expected to be completed by Kinland in late June 2021.
“The acquisition of this portfolio of preschools and care homes is consistent with the strategy of Kinland to develop a meaningful social infrastructure platform across the Nordics and continental Europe. At Whitehelm we are long-term investors, and we will continue to support Kinland in its mission to ‘Invest Where People Live’. We are very pleased to be supporting local communities by providing a high-quality environment for essential services that are used by thousands of people on a daily basis” said Graham Matthews, Chief Executive of Whitehelm Capital and Chairman of the Board of Kinland.