SBB acquires SEK 1.2bn social infrastructure portfolio
Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") continues to grow its portfolio of social infrastructure properties through the purchase of 14 assets from Hemsö that include elderly care homes, health centres and education properties located in Stockholm and Västra Götaland for approximately SEK 1.2 bn.
The portfolio is located mainly in Stockholm (60%) and 94% of the rental income is generated from activities financed by public funds, of which 61% come directly from the state, county council or municipality with a focus on care and education facilities. The average contract length in the portfolio is 6.8 years and rental income is SEK 79.7 million. The total lettable area in the portfolio is 56,000 sq.m.
"We are pleased to have entered into this deal with Hemsö, which we believe own a high quality property portfolio. With this acquisition, we continue to strengthen our position as the Nordic region's leading listed player in social infrastructure and strengthen our property management in Stockholm and the Västra Götaland region," says Ilija Batljan, CEO and founder of Samhällsbyggnadsbolaget i Norden AB.
Closing will take place on May 27, 2019.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, ilija@sbbnorden.se
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.