Press release, 19 December 2025 at 10:15am
Toivo Group Plc ("Company" or "Toivo") has signed sale agreements with Belgian company Cofinimmo SA ("Cofinimmo" or "Buyer") for two care properties under construction. The combined value of the properties is over 6 million euros. Toivo has signed long-term lease agreements with Esperi Care Oy ("Esperi") for both properties and is responsible for the completion of the properties according to the contracts.
The projects are a part of the letter of intent Toivo signed with Cofinimmo in July 2025 regarding the development and sale of several similar properties in the future. Separate negotiations will be held for each property, and their realization is subject to the usual uncertainties associated with real estate transactions. The total estimated value of the projects under the letter of intent is approximately EUR 20-40 million, assuming that all projects are realized, with expected implementation during the years 2025-2027.
Toivo is constructing a home for 23 residents with intellectual disabilities in Joensuu and a 19-resident home in Joutseno, Lappeenranta. Both properties are designed with a focus on smooth daily living and energy efficiency, and will be classified A-energy class. The Joensuu property is scheduled to be handed over to Esperi in late 2026, while the handover of the Lappeenranta property is estimated for the beginning of 2027.
Esperi is one of Finland's leading care service providers offering services nationwide. In recent years, Esperi has focused strongly on developing its operations and has achieved a good occupancy rate in its facilities.
"It is great to get these two new projects underway. From the very beginning, development has proceeded in close and good cooperation with the various parties. The design has been driven by the residents' perspective - our goal is to build homes that are genuinely good and functional for those living there. In addition to a homelike atmosphere, safety, and solutions that support daily life, the properties also take into account environmental goals and sustainable construction," says Real Estate Director Tomi Rosqvist.
"We are pleased to announce further projects that are being implemented for Esperi. Following an active year, we view the upcoming year with confidence. The collaboration with Esperi, Cofinimmo, and Mirabel Partners, who represent Cofinimmo in Finland, has been rewarding and highly efficient," says Perttu Aikkila, Business Director of Toivo's Social Infrastructure Properties -division.
" These latest acquisitions further consolidate our portfolio in Finland and reinforce our long-term commitment to the region and in particular with Toivo Group. After completion of the projects closed this week with Toivo and the other projects signed this week, the Finnish portfolio of Cofinimmo will represent a total value of more than 200 million EUR of prime, sustainable and diversified healthcare assets", comments Jean-Pierre Hanin, CEO of Cofinimmo.
Toivo Group Plc
Esperi Care Oy
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 8476206
markus.myllymaki@toivo.fi
Esperi Care Oy
Mediadesk (Mon-Fri. 9 a.m.-4 p.m.),
Tel. +358 10 408 7000
media@esperi.fi
About Toivo
Toivo is a Finnish real estate company founded in 2015, specializing in residential and social infrastructure properties. The company's business model is unique as it integrates the entire real estate value chain-from property development and construction to ownership, management, leasing, and sales of completed properties. Toivo's in-house team manages the full lifecycle of a property, from raw land acquisition to lease negotiations and property maintenance.
Toivo's strategy is to develop clear and efficient properties with strong development margins, stable and attractive returns, and excellent locations. This enables the company to deliver maximum added value to its customers, owners, and stakeholders. Toivo is backed by a skilled and experienced team of professionals with strong credentials in the real estate sector. The team members have collectively been involved in the development and construction of over 17,000 apartments and have an average of ten years of experience in the industry.
In 2024, Toivo's revenue was EUR 39.8 million and operating profit EUR 4.5 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 respected managers and best colleagues in Finland.
