Technopolis Divests Two Campuses for EUR 60.6 Million
Technopolis signed an agreement today to sell its remaining Lappeenranta operations at Skinnarila, as well as its Finnmedi campus in Tampere for a total of EUR 60.6 million. The assets divested have a GLA of 38,300 square meters and the deal is fair value positive. The buyer is a group of domestic investors comprising the investment funds eQ Care and eQ Finnish Real Estate, a real estate investment company Investors House Oyj and its partially owned and managed Kampus Skinnarila Oy.
“This divestiture is part of our campus portfolio strategy to reduce and focus our Finnish exposure and it will provide additional firepower for expansion in the Nordic-Baltic region,” says Keith Silverang, CEO of Technopolis.
Skinnarila Campus in Lappeenranta
Technopolis has been operating the Skinnarila campus in Lappeenranta (24,100 m²) since 2005 when the company acquired Teknologiakeskus Kareltek Oy. Currently about 80 companies and approximately 1,000 people are located in the campus. “The past ten years have been great for Skinnarila and Lappeenranta as a whole. The future looks bright and best of all, from the customer perspective the core of what we do and how we do it will remain the same,” says Päivi Kangas, Business Unit Director of Lappeenranta. Technopolis employees in Lappeenranta will be transferred to the payroll of Investors House Oy.
Finnmedi Campus in Tampere
The Finnmedi campus (14,200 m²) was built and completed by Technopolis in 2011 and it is mainly occupied by an eye hospital and a patient hotel, which sets it apart from Technopolis’ characteristically multiuser profile. “This divestiture will enable Technopolis Tampere to focus on its strength – multiuser working environments and services. That DNA characterizes our other three campuses in Tampere,” says Satu Eskelinen, Tampere Business Unit Director.
The deal will have a negative impact of EUR 1.0 million on the Group’s net sales and a positive impact of EUR 0.3 million on EBITDA for 2016. The company’s guidance for the current year remains unchanged.
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