SBB acquires elderly care homes, preschools and care properties in Finland for EUR 142m
Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") acquires a portfolio of 48 properties, of which 27 properties are used for elderly care homes, corresponding to 70% of the rental income, 11 properties are used for preschools, corresponding to 11% of the rental income and 10 properties are used for care corresponding to 19% of the rental income.
The WAULT is 9 years and the properties are fully let. The total lettable area comprises approximately 50,280 sq.m. of which 90% has been built between 2008 and 2018. The total rental income is EUR 9.1m, with a net operating income of EUR 8.6m. The rental income is fully tax-financed and indexed with 100% CPI.
The acquisitions are financed through equity and bank loans.
"SBB is the Nordic region's leading player in social infrastructure and with this deal we further strengthen our position. The deal strengthens our earnings and creates continued good opportunities for value creation and growth in net asset value," says Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB.
The closing takes place on April 29, 2019.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, ilija@sbbnorden.se
This information is information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on April 24, 2019, at 17:18 CET.
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: certifiedadviser@penser.se / +46 84638300). More information about the company is available at www.sbbnorden.se.