Toivo Group Plc has signed rental agreements with Esperi Care Oy for two community properties to be built
Press release, 11 December 2024 at 12:00
Toivo Group Plc (”Company” or ”Toivo”) has signed rental agreements with Esperi Care Oy for properties valued approximately 12 million euros in Rovaniemi and Järvenpää.
Toivo has signed long term triple net lease agreements with Esperi Care Oy:n (”Esperi”) and will construct two new residential care homes: a 24/7 assisted living facility for seniors in Rovaniemi, offering 63 resident places, and a home for individuals with developmental disabilities in Järvenpää, with 30 resident places. Both projects prioritize not only the daily functionality for residents and staff but also energy efficiency. Heating will be provided via geothermal energy, and solar panels will be installed on the roofs. The aim is to start both projects as soon as possible. The Järvenpää facility is expected to be handed over to the tenant by the end of 2025, with the Rovaniemi facility following in summer 2026.
Esperi is one of Finland's leading providers of care services, offering its services nationwide. In recent years, Esperi has focused extensively on developing its operations, achieving a good occupancy rate across its facilities. The collaboration between Esperi and Toivo has started smoothly.
” It is great to launch joint projects with Toivo. Energy efficiency is extremely important to us and one of our key sustainability goals. These new facilities will be built sustainably, with a focus on the smooth daily lives of both residents and employees”, says Esperi’s Real Estate Director Tomi Rosqvist.
” It is important for Toivo to build on this well-started collaboration and to realize these two excellent projects that will enhance the daily lives of residents and Esperi’s employees”, says Perttu Aikkila, Business Director of the Toivo’s Community Properties division.
Toivo Group Plc
Esperi Care Oy
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 40 847 6206
markus.myllymaki@toivo.fi
Esperi Care Oy
Media desk (Mon–Fri 9 a.m.–4 p.m.),
Tel. +358 10 408 7000
About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company’s business model is unique as Toivo’s business combines the value chain of the real estate business, from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This ensures that Toivo is able to generate additional value for its customers, shareholders and stakeholders.
Toivo’s strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, which enable long-term ownership and the generation of higher additional value for Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo’s team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.
Toivo’s revenue in 2023 was EUR 43.7 million and its operating profit was EUR -0.3 million.
About Esperi
Esperi Care offers diverse and high-quality care services for the elderly, the disabled and people in need of mental care all over Finland. Our mission is to offer a safe home and enable a happy life for residents on their own terms. We strive to anticipate the needs of the care industry and society and to develop its operations and continue to provide residents with the ingredients for a good life also in the future. Our goal and vision is to have the happiest residents, most appreciated supervisors and the best colleagues in Finland.