SBB acquires 37 social infrastructure properties in Finland, Sweden and Norway
Samhällsbyggnadsbolaget I Norden AB (publ) ("SBB") continues to grow its portfolio of social infrastructure properties through an acquisition from Humana, which remains as a tenant in the acquired properties.
The portfolio contains elderly care homes and group housing for special needs with an average contract length of 14.2 years.
The acquisition includes 30 properties in Finland, five in Sweden and two in Norway with a total lettable area of 22,428 sq.m. The bulk of the portfolio is located in the southern part of Finland around Helsinki and Jyväskylä. The properties in Norway are located in Oslo.
The agreed property value of the portfolio amounts to SEK 468m with a rental income of SEK 32m.
Closing took place on 11 July 2019 with the exception of five properties that are under construction where closing will take place upon completion, which is expected to be during 2020.
Bernström & Partners has been the seller's advisors in the transaction. SBB has been represented by Wistrand, HPP and Selmer.
“SBB shows yet again that we are the Nordic region’s leading player in social infrastructure. We are therefore pleased that we have been given the opportunity to acquire a well-managed Nordic portfolio with long lease agreements and we look forward to increased cooperation with Humana,” says Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget I Norden AB.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, firstname.lastname@example.org
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), D shares (short name SBB D) and preference shares (SBB PREF) are listed on Nasdaq First North Premier. Certified Adviser is Erik Penser Bank (contact: email@example.com / +46 84638300). More information about the company is available at www.sbbnorden.se.