Aedifica sells portfolio of 10 buildings in Finland

Aedifica sells portfolio of 10 buildings in Finland
Image: Aedifica

Belgian real estate company Aedifica signed an agreement to sell a portfolio of 10 buildings in Finland.

The assets being sold include 10 child day-care centres with a capacity for approx. 875 children. The portfolio was built by Hoivatilat between 2012 and 2020 and is operated by Touhula, Pilke, Norlandia and Murunen.

The selling price amounts to approximately €25.6 million and is in line with the latest fair value as estimated on 31 March 2023 by Aedifica’s independent valuation expert.

The disposal of the portfolio is part of the 2023 divestment programme amounting to €150 million. In total, 12 properties have been divested in 2023 amounting to approx. €34 million.

Stefaan Gielens, CEO of Aedifica, commented: “This sale marks a further step in our 2023 asset rotation programme. By recycling capital through the sale of a number of assets, we are not only optimising the composition of our portfolio but also strengthening the Group’s liquidity. The proceeds from the disposal programme, together with available funding on committed credit lines, will be used to
finance the completion of the development pipeline.

The transaction is expected to be completed by the end of June 2023.

Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!