SBB and Genova are developing cooperation in Stockholm

Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") and Genova have jointly acquired Nackahusen Holding in Nacka Strand consisting of initially six properties containing building rights of approximately 40,000 sq.m. The purchase price for the shares amounts to SEK 1 and the joint venture company will take over responsibility for the outstanding bond loan of approximately SEK 360m. The intention is for the parties to develop both rent regulated apartments for long-term management and condominiums.

Nackahusen Holding has previously sold properties and the payment attributable to this will be settled in November 2020 of approximately SEK 50m and a further almost SEK 120m when the detailed plan has gained legal force. The jointly owned company will then control properties and building rights of approximately 30,000 sq m of BTA to an underlying property value of approximately SEK 190m.

For further information, please contact:

Oscar Lekander, Chief Business Development Officer Samhällsbyggnadsbolaget i Norden AB, oscar@sbbnorden.se

Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region’s leading property company in social infrastructure. The Company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB’s commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. The Company’s preference shares (ticker SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: certifiedadviser@penser.se / +46 84638300). Further information about SBB is available at www.sbbnorden.se.

Subscribe