SBB completes the acquisition of Finnish portfolio consisting of mainly elderly care properties – profit from property management increases by SEK 136m
The acquisition was signed on 15 October 2020 and has now been approved by the Finnish Competition Authority and the acquisition is thus unconditional, completion will take place on 17 December 2020.
The portfolio comprises approximately 71,000 sq.m. of lettable area with a rental income of approximately EUR 13.6m and a net operating income of approximately EUR 13.1m. The average lease maturity of the portfolio is 7.6 years.
The agreed property value for the portfolio amounts to EUR 222m. The properties are primarily located in southern and western Finland with 25 per cent of the property value in the Helsinki region. Elderly care homes make up 60 per cent of the portfolio, followed by 20 per cent special care homes and 20 per cent education.
”We continue to strengthen our position in Finland and in line with our strategy to increase the number of elderly care homes under own property management,” comments 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, ilija@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.