EVLI BANK PLC PRESS RELEASE JULY 4, 2018 AT 9.00 A.M.
Evli Fund Management Company's Evli Healthcare I Ky fund has on July 2, 2018 signed a contract to purchase six new nursing homes under construction. The seller is Siklatilat Oy, a company part of the Sikla Group. The nursing homes will be transferred to the fund's ownership upon completion. The first nursing homes will be completed during spring 2019. There is a total of 208 beds at the nursing homes and their total value is approximately EUR 24 million.
The Fund's portfolio manager Petteri Nurminen: "With this deal we continue to strongly implement the fund's strategy. The properties are high-quality and modern nursing homes, and the tenants are committed with long rental agreements. With this acquisition, we further raise the fund's average return and extend the average duration of the lease agreements."
Evli Healthcare I Ky was established in early 2018 and the strategy of the fund is to invest in Finnish nursing and healthcare properties that provide stable cash flow through long-term rental agreements with stable tenancy. The fund focuses, in particular, on modern care facilities that provide services through private operators. The fund's real estate investments are always acquired with rental agreements, whereby the tenant and rental contract risk is kept low.
The Evli Healthcare I Ky fund is one of three Evli Fund Management Company's property investment funds. The two other funds are EAI Residential I Ky, established in 2015, and Evli Rent Yield established in 2018.
For more information, please contact:
Petteri Nurminen, Director, Evli Fund Management Company Ltd, tel. +358 40 509 5665, petteri.nurminen@evli.com
Evli Fund Management Company Ltd is a 100 percent owned subsidiary of Evli Bank.
Evli Bank Plc
Evli is a bank specialized in investments that helps institutions, corporations and private persons increase their wealth. The product and service offering includes mutual funds, asset management and capital markets services, alternative investment products, equity research, administration of incentive programs and Corporate Finance services. The company also offers banking services that support clients' investment operations. Evli is the highest ranked and most used institutional asset manager in Finland*.
Evli has a total of EUR 11.4 billion in client assets under management (net 3/2018). The Evli Group's equity capital totals EUR 65.9 million and its BIS capital adequacy ratio is 15.4 percent (March 31, 2018). The company has more than 200 employees. Evli Bank Plc's B shares are listed on Nasdaq Helsinki Ltd.
*TNS Sifo Prospera External Asset Management Finland 2017, SFR Scandinavian Financial Research Institutional Investment Services, Finland 2017 (shared first place).
Distribution: main media, www.evli.com