17 October 2022, Finland | Corporate Finance | News
Catella acted as the exclusive financial advisor for the City of Jyväskylä in the potential divestment of 13 social and healthcare properties. The transaction is subject to approval of Jyväskylä City Council and it will decide on the approval of the transaction in the city council meeting on 31st October 2022. The buyer is a Nordic infrastructure investor Infranode. The purchase price is approximately 84 million euros.
The planned transaction comprises 13 healthcare centre, youth detention home, group home and care properties located in Jyväskylä. The lettable area of the portfolio is approximately 36,000 sq.m. The portfolio comprises most of the social and healthcare properties owned by the City of Jyväskylä. The background for the transaction is ongoing health and social services reform in Finland and city’s willingness to focus on property holdings in which they will remain as end-users.
Properties are leased to the City of Jyväskylä. Lease agreements will be transferred to the Wellbeing Services County of Central Finland from 1st January 2023 onwards.
The buyer, Infranode, is a Nordic infrastructure investor, that invests responsibly and long-term in social infrastructure and in energy, transportation and digital infrastructure. Infranode is committed to develop its assets based on “buy and hold” -investment strategy with an in minimum investment horizon of 25 years. Currently, Infranode has approximately 1.8 billion euros assets under management on behalf of its investors. Infranode’s investors are primarily Nordic institutional investors and pension funds.
Catella acted as the City of Jyväskylä’s exclusive financial advisor in the sales process. Bird & Bird acted as the seller’s legal advisor.
For more information, contact:
Erkki Hakala
Director
+358 50 3625 768
erkki.hakala@catella.fi
Lauri Ruokonen
Associate
+358 40 5806 404
lauri.ruokonen@catella.fi