JLL advised eQ on the sale of 18 day care properties to Kinland AS
eQ Community Properties Fund has signed an agreement to sell a portfolio of 18 day care properties to Kinland AS. The portfolio is part of a larger portfolio transaction, which was carried out between the parties with 76 million euros. The assets are leased to market leading tenants and are located in Helsinki area and in large cities.
@Mikko Ala-Peijari, PhotoCom
Tero Estovirta, Director of Real Estate Investments at eQ Asset Management: "The transaction is a strong indicator of the functionality and activity of the market. The capital and profit gained by this transaction will be invested in new developments and acquisitions. The transaction will shape eQ Community Properties’ portfolio towards our target allocation. With the transaction, the Fund further strengthens its position as an owner and developer of larger and centrally located community properties and as a partner of public users. The number of properties in the portfolio will decrease and at the same time the unit size will increase, making the Fund's operations more efficient. Kinland, as a buyer, is a respected player as an owner of social infrastructure properties.”
Antti Pelli, Senior Director, Capital Markets, JLL Finland: “We are extremely happy to be assisting eQ in this transaction. The deal shows that social infrastructure is an asset class that continues to attract investor demand even in challenging market conditions. We are also pleased to continue building our strong track record in the healthcare market and we want to thank eQ and Kinland for a smooth transaction.”
JLL acted as commercial advisor to eQ in the transaction. Hannes Snellman acted as legal advisor to eQ.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.