SBB acquires preschool portfolio in Norway with newly signed 35-year triple-net leases for NOK 4,250m
Samhällsbyggnadsbolaget I Norden AB (publ) ("SBB") acquires a larger portfolio of preschools from the Norwegian company Laeringsverkstedet, where Laeringsverkstedet is also the tenant, for an agreed property value of NOK 4,250m. The annual rental income for the 138 properties included in the transaction (approx. 114,000 sq m of building space and 601,000 sq m of plot) amounts to approximately NOK 251.4m and SBB's average adjusted contract length increases to nine years with the transaction. In connection with the transaction, Laeringsverkstedet will become a shareholder in SBB and the