Toivo Group Plc starts community property business with Esperi Care Oy
Press release, 10 June 2024 at 13:00
Toivo Group Plc (hereinafter referred to as "the Company" or “Toivo”) has signed a lease on a project valued over EUR 13 million to be constructed in Kangasala with Esperi Care Oy.
In September 2023, Toivo announced that it will start piloting the community property business. Since then, the company has started to develop projects and negotiate with customers. Toivo now finds that the objectives of the pilot phase have been met, and the company has decided to launch the community properties business.
Toivo has entered into a long-term triple net rent agreement with Esperi Care Oy ("Esperi") and will implement a service housing home for a total of 94 residents in Lamminrahka, Kangasala. In addition to the functions serving the entire building, the ground floor will feature a home for residents with learning disabilities and the upper floors will feature 24-hour service housing for elderly people. In addition to practical design solutions, the site also focuses on energy efficiency: heat is generated using geothermal heat and there will be solar panels on the roof. The aim is for the site to be ready for commissioning in late 2025.
Esperi is one of Finland’s leading providers of care services, offering its services throughout Finland. In recent years, Esperi has focused heavily on developing its operations and has achieved a satisfactory utilisation rate for its properties. The cooperation between Esperi and Toivo has started smoothly.
"Our homes are built on a solid foundation of safety and quality, and at the same time we are pushing environmental matters forward. We are committed to continuously improving our environmental performance and managing our impact," says Real Estate Director Tomi Rosqvist.
"It has been great to collaborate with Esperi’s professionals and now be able to implement a fantastic project for residents and staff. The cooperation with the representatives of the City of Kangasala has also been smooth. We aim for smooth and long-term cooperation with Esperi," says Perttu Aikkila, Business Director of Toivo's community properties.
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.