PRESS RELEASE
17 September 2014, at 10:00 a.m.
eQ HAS AGREED TO PURCHASE CARE PROPERTIES WORTH IN A TOTAL OF 65 MILLION EURO TO eQ CARE FUND
eQ Asset Management Ltd and YIT Construction Ltd have agreed on a construction of five properties to the eQ Care fund. Two of the properties are day-care centers and three are other care properties. The properties are located in Kirkkonummi, Järvenpää and Hyvinkää. The total value of the transaction is nearly 25 million euro. Properties will be completed in 2015.
In addition, eQ Asset Management Ltd, Päätoimija Ltd, and Esperi Care Ltd have agreed on an implementation of 12 care properties to eQ Care fund. The properties are located mainly in medium-sized cities in Finland. The total value of the purchase is more than 40 million euro. Properties will be completed mainly during 2015.
"The Finnish real estate market is in an interesting phase with a room for new active actors and approach. eQ Asset Management's long-term and domestic approach bring additional value to both investors and the real estate market. The signed agreements complement to the eQ Care fund and enable stable foundation for the future development of the fund. Customer interest in care properties is strong and we now purchase a portfolio of excellent new properties, "says eQ Asset Management's Head of Real Estate Investments, Tero Estovirta.
eQ Asset Management is a significant Finnish real estate asset manager. The real estate investment team has been strengthened during the summer. At the moment, eQ Asset Management manages eQ Care fund. Fund’s investment capacity is approximately 260 million euro. eQ is aiming to launch a new real estate fund before the end of the year.
Helsinki 17 September 2014
eQ Asset Management Ltd
Additional information:
Tero Estovirta, Head of Real Estate Investments, eQ Asset Management Ltd, tel. +358 50 593 6194 / tero.estovirta@eQ.fi
eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 7.1 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on our website at www.eQ.fi.