Toivo Group Plc (Toivo) has signed sale agreements with a fund managed by Nrep for two community properties. The value of the transaction is c. €20m. The properties will be implemented during 2025-2026
One of the properties, located in Kangasala, is being developed for the use of Esperi Care Oy, with preparatory construction work already underway. The Kangasala property will provide housing for both elderly residents and individuals with developmental disabilities. The second property, designed for elderly residents, will be constructed in Helsinki. The goal is to begin construction on the Helsinki property in 2025. Both properties will utilize geothermal heating, be equipped with solar panels and be in A-energy class. Both properties will also be BREEAM certified.
The commencement of construction for both community properties still requires the completion of the transactions. The execution of the transactions involves uncertainties typical of real estate deals.
“In both projects, in addition to energy efficiency, special attention has been paid to the functionality and comfort of daily life for residents and staff. This provides an excellent foundation for continuing the development of social infrastructure projects in line with our strategy,” said Perttu Aikkila, Business Director of Toivo’s Community Properties division.
”It is great to begin collaboration with Nrep, a figurehead in its field. We thank them for their trust, and our goal is to deepen the partnership and explore mutual growth opportunities,” commented Toivo’s Chief Executive Officer, Markus Myllymaki.
”Nrep aims to invest in modern, high-quality care properties in growing urban centers, with a focus on sustainable development goals. We are very pleased to begin our collaboration with Toivo, whose entrepreneurial and customer-centric approach has made the partnership smooth from the very beginning. We hope to continue the excellent start to our cooperation on other projects as well," commented Thomas Budden, Director of Community Property Investments at Nrep.
Image source - Pexels.
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