Finland: Cofinimmo moves into Finland

Jean-Pierre Hanin, chief executive officer, Cofinimmo

After last week’s blockbuster deals in Germany, Belgian real estate company Cofinimmo is extending its healthcare portfolio to Finland.

It is to build a medical centre in Vaasa, the regional capital of Ostrobothnia on the west coast of Finland for €20m (US$23.6m)

The project is already pre-let to Mehiläinen, the largest private care provider in Finland.

The site will bring all of Mehiläinen’s local services in Vaasa under one roof: medical centre, occupational health services, hospital Mehiläinen, Urheilu (sports) Mehiläinen, Hammas (dentistry) Mehiläinen.

The building is located in the city centre and is within walking distance of the train station of Vaasa. It also has a bus stop just across the street and offers parking spaces in sufficient number, which makes it easily accessible.

Work is expected to finish in the third or fourth quarter of next year.

“After Belgium, France, the Netherlands, Germany and Spain, Cofinimmo expands its healthcare activities to Finland,” said Cofinnimo chief executive Jean-Pierre Hanin.

“The acquisition of this first modern and large-scale complex enables the group to start a partnership with Mehiläinen, a leading operator in the Finnish healthcare segment. We will progressively build our presence in Finland.”

Cofinimmo said that it has chosen to cooperate in the sourcing and management of investments in the Nordics with Mirabel Partners, an investment management firm based in Helsinki and Stockholm.