SBB acquires 1 560 apartments and sells 50 000 sqm building rights to JV with Amasten
Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") acquires a total of 1 560 apartments, of which 670 are located in Växjö, and 426 in Ronneby, The total lettable area comprises 114,750 sq.m. in Växjö, Ronneby, Helsingborg, Olofström, Karlshamn, Osby och Åstorp. Total rental income amounts to SEK 116.3 million and net operating income is approximately SEK 66.5 million. The transaction is financed with equity.
SBB and Amasten also form a joint venture to build rent regulated residentials in Nyköping. SBB sells approximately 50,000 sq.m. BTA building rights to the JV at a price of SEK 3,000 per sq.m. BTA.
"We are particularly pleased to have gained a strong position in Växjö and Blekinge, where we are about to become the largest rent regulated residentials company. With these acquisitions, we become the largest independent listed residential company, which with our strong position as the Nordic region's leading player in social infrastructure properties creates continued good opportunities for value creation and growth in net asset value. We look forward to our collaboration with Amasten to invest in new construction in Nyköping as a strong part of the growing Stockholm region," says Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB.
"SBB is a long-term property owner in a strong expansive phase. We are now focusing on Mälardalen, major northern coastal cities and the production of Riki apartments, "says Jan-Erik Höjvall, CEO Amasten Fastighets AB.
The closing takes place preliminary on December 15, 2019.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, email@example.com
About Samhällsbyggnadsbolaget i Norden AB (publ)
The company’s strategy is to own, manage and develop community service properties throughout the Nordic region and rental apartments in growth regions in Sweden. Through the company's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the company an attractive long-term partner. At the beginning of 2018, SBB was named the winner of the Real Estate Company of the Year Award for 2017. The company’s series B shares (short name SBB B) and D shares (short name SBB D) are listed on Nasdaq Stockholm, Large Cap. The company’s preference shares (SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: firstname.lastname@example.org / +46 84638300). More information about the company is available at www.sbbnorden.se.