PPI acquires Lillehammer school property for NOK 87.6m

Public Property Invest ASA (PPI) has announced the acquisition of Kleivbakken 9 in Lillehammer, a social infrastructure property. The transaction is based on a total property value of NOK 87.6 million. This fully let property spans approximately 4,900 square meters and is primarily leased to NTG (Norwegian College of Elite Sports), boasting an average unexpired lease term of 10 years.

According to chief executive Andre Gaden, this acquisition aligns with PPI's strategy to expand as a leading consolidator of social infrastructure properties across the Nordics, offering an attractive yield. The company aims to grow its portfolio through such strategic additions.

The transaction is slated for an expected closing date of 1 October 2025. This move reinforces PPI's commitment to its growth strategy within the social infrastructure sector.