Public Property Invest

What Public Property Invest does

Public Property Invest (PPI) is a Nordic real estate company specializing in social infrastructure properties, including care homes, schools, healthcare facilities, and justice/courthouse buildings. Founded in 2021 in Norway, PPI owns approximately 851 properties spanning roughly 2.2 million square meters across Norway, Sweden, and Finland. The company IPO'd on the Oslo Stock Exchange in April 2024, completed a cross-border merger to re-domicile to Sweden in May 2026, and is now primarily listed on Nasdaq Stockholm with a secondary listing on Euronext Oslo Børs.

PPI's portfolio is anchored by long-duration leases with government and public-sector tenants, with 84% of rental income government-backed and 92% from the public sector at run-rate. Named tenants include Norwegian municipalities, NAV (the Norwegian Labour and Welfare Administration), Norwegian Courts, the Norwegian Tax Authorities, and the City of Gothenburg. The weighted average unexpired lease term (WAULT) extends up to 21 years and leases typically include annual escalators, producing high revenue visibility. The company carries a BBB+ investment grade rating from Fitch, reflecting both the credit quality of its tenant base and the post-SBB capital structure.

The business model centers on acquiring, owning, and operating social infrastructure real estate leased primarily to government and public-sector counterparties on long, indexed, triple-net-style contracts. Revenue is generated through rental income with annual inflation-linked escalators; growth is funded through a combination of equity (private placements, strategic investments such as the NOK 1.3B Aker ASA stake and APG co-investment) and debt (notably a EUR 800M Social Notes program). Following the NOK 37 billion SBB portfolio acquisition in November 2025, total assets reached approximately NOK 53 billion. Q2 2026 rental income was SEK 884 million, up 3% quarter-over-quarter, with net income up 17% quarter-over-quarter. The company operates with a lean team of 11-50 employees and pursues a programmatic consolidation strategy in a highly fragmented Nordic social infrastructure market.

Name

Public Property Invest

Legal name

PPI Public Property Invest AB (publ)

Website

https://publicproperty.se

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Public Property Invest is a Nordic real estate company owning approximately 851 social infrastructure properties (care homes, schools, healthcare, justice) leased primarily to government and public-sector tenants across Norway, Sweden, and Finland.

Ownership category

akta.pro rank

Product category

Social Infrastructure Real Estate

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940)

SIC

Real Estate Investment Trusts (6798), Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)

akta.pro primary industry

Social Infrastructure Funds (Schools, Hospitals, Civic) (FSANAEAN)

akta.pro secondary industries

Real Assets — Social Infrastructure / PPP (Schools, Hospitals, Government Facilities) (FSAHAIAH), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Social infrastructure real estate
• Public sector property
• Property leasing services
• Community service properties
• Nordic real estate investment

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Others

Revenue model

1. Rental income from social infrastructure properties: PPI generates revenue primarily through long-term lease contracts with government and public-sector tenants for social infrastructure properties including care homes, schools, healthcare facilities, and justice/public safety buildings. The leases are characterised by long durations, stable cash flows, and government-backed credit quality (84% of rental income from government-supported leases). The company distributes approximately 60% of cash earnings as quarterly dividends.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Public Property Invest (PPI) owns, operates, and develops social infrastructure properties across the Nordic region, comprising approximately 851 properties and roughly 2.2 million square metres. The portfolio includes elderly care homes, schools, healthcare facilities, police stations, courts, and other community service buildings. Revenue is generated primarily through long-term lease contracts with government and public-sector tenants, with 84% of rental income backed by government leases.

Product overview

Public Property Invest is a Nordic real estate company that owns, manages, and develops social infrastructure properties. The company operates as a single integrated platform focused on community service properties with public-sector tenants. The portfolio comprises approximately 850 properties across the Nordic region including elderly care homes, education facilities, healthcare properties, and justice/public safety buildings. PPI's core offering is its property portfolio management platform, with services including property management, development, and leasing. The company targets continued growth through acquisitions and consolidation in the Nordic social infrastructure market.

Differentiator

Problem solved

Functional benefit

Products and services

• Social Infrastructure Property Portfolio
• Property Management Services

Quantifiable outcome

• 84% of rental income from government-backed tenants
• +5 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Aker Property Group AScoreStrategic or Co-development PartnerAker Property Group AS made a strategic investment in PPI and PPI acquired a NOK 1.5 billion portfolio of critical industrial infrastructure assets from Aker Property Group in May 2025. This transaction was part of a broader strategic relationship between the Aker group and PPI.
• Fitch RatingsminorOthersFitch Ratings provides independent credit ratings for PPI. The company achieved investment grade BBB+ rating from Fitch, supporting access to debt capital markets at competitive rates.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Aker Property Group AS: Strategic investor and partner in PPI; Aker Property Group owns Nordic real estate assets and sold a NOK 1.5bn portfolio of critical infrastructure to PPI in May 2025. Operates in the same Nordic real estate market with overlapping investor base and infrastructure focus.
• Hemfosa Fastigheter AB: Swedish community-service property company (acquired by SBB in 2018) focused on public-sector tenants across Sweden. Historically a close peer to PPI's social infrastructure focus, sharing the same long-lease, government-tenant profile.
• Offentliga Hus i Norden AB (publ): Swedish-listed real estate company specialising in public-sector properties (schools, care homes, justice facilities) — a near-perfect direct comparison to PPI. PPI's CIO Ilija Batljan was previously CEO of Offentliga Hus before its acquisition by SBB.
• Heimstaden AB: Major Nordic residential and community-service real estate company with significant exposure to elderly care and community properties across Sweden, Denmark, Norway, and Germany. Directly comparable to PPI given the overlap in care-related real estate and Nordic geographic focus.
• Samhällsbyggnadsbolaget i Norden AB (SBB): PPI acquired the bulk of SBB's social infrastructure portfolio in November 2025 for NOK 37bn. SBB remains the most directly comparable peer in Nordic social infrastructure real estate, sharing the same asset class (care homes, schools, justice facilities) and many of the same executive alumni now at PPI.

Regional players

• Diös Fastigheter AB: Swedish real estate company focused on Nordic growth cities (north of Stockholm and into Norrland), with mixed-use and public-sector exposure. A regional Nordic peer for geographic overlap with PPI's Swedish portfolio footprint.

Others

• KLP Eiendom AS: Norwegian pension fund-owned real estate company with significant Nordic and European real estate exposure, including public-sector-adjacent assets. Relevant as a large institutional competitor and indirect capital partner in Nordic social infrastructure.

Broad incumbents

• Castellum AB: One of the largest listed Nordic real estate companies, focused primarily on office, logistics, and mixed-use properties across Sweden. A broad incumbent providing investor reference points for capital costs and dividend policy in the Swedish real estate market.
• Balder AB: Sweden's second-largest listed real estate company, with diversified exposure across residential, commercial, and public-sector properties in the Nordics. A relevant broad incumbent for benchmarking capital structure and listed real estate returns.
• Catena AB: Listed Swedish real estate company specialising in logistics and supply-chain properties across the Nordics. A broad incumbent benchmark for Nordic listed real estate valuations, financing strategies, and dividend discipline.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Public Property Invest