Hemsö to make EUR 180 million property investments in Turku

Avance advises Hemsö, Sweden’s leading private owner of properties for public use, in its acquisition of a property portfolio of nursing home and health care properties located in the City of Turku. The acquisition cost of the property portfolio is EUR 130 million and the seller is the City of Turku.

Hemsö will simultaneously with the above acquisition invest and acquire a 34.8 per cent stake in Turku Technology Properties (TTP), for a value of EUR 50 million. TTP’s property portfolio mainly consists of educational properties concentrated in the Kupittaa district of Turku, with a leasable area of approximately 150,000 sqm. After the investment, Hemsö and the City of Turku will be the largest shareholders of TTP.