PPI acquires a school and pre-school in central Helsinki in Finland

Finland, March 7 -- Public Property Invest ASA ("PPI") has through its subsidiaries acquired an elementary school project in central Helsinki. The project is fully pre-let and will be completed by the end of 2026. The total investment cost is approximately EUR 27.5 million and generates a net initial yield of ca. 6.2% at completion.The total lettable area is approximately 5,000 sqm and is fully let to the city of Helsinki and a private school. The property will be fully renovated according to modern standards and high ESG targets. Annual net operating income at completion is estimated to be approximately EUR 1.7 million. The lease agreements have an average unexpired lease term of over 22 years.

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