SBB gathers residential assets of SEK 29 billion in Sveafastigheter ahead of broadening of the shareholder base
Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") gathers residential stock and residential development of SEK 29 billion in the subsidiary Sveafastigheter AB, a unique platform for developing and managing high quality residential rental properties in Sweden.
Sveafastigheter's occupancy rate is 94 percent and the increase in net operating income over the current year amounted to 13.6 percent in comparable portfolios. Sveafastigheter owns and manages 14,498 apartments, excluding partially owned companies, and has building rights for 15,485 apartments. In addition, SBB has 7,284 apartments in partly owned companies and the ambition is that a large part of this will be transferred to Sveafastigheter. Sveafastigheter is well positioned to realize project profits and market conditions for property development are expected to gradually improve during 2024.
Sveafastigheter will be governed by an independent Board of Directors and management team with Erik Hävermark as Head of Business Development and interim CEO and Martina Lous-Christensen as CFO. Erik Hävermark was previously Head of Project Development at SBB and Martina Lous-Christensen most recently comes from the role as Finance Director at Alma Property. Together with SBB, the new management team will execute the plan for broadening the shareholder base of Sveafastigheter during 2024. Broadening the shareholder base will lead to a favorable position for the company with increased financial stability and streamlined operations.
"SBB's new group structure follows a distinct management model and portfolio strategy where Sveafastigheter will become one of our key holdings. We create optimal conditions for Sveafastigheter to benefit from its unique market position and growth journey. I am confident that, with his experience and expertise, Erik Hävermark will play a crucial role in guiding Sveafastigheter through this transition”, says Leiv Synnes, CEO of SBB.
Ola Svensson has been appointed as Head of Property Management. Ola Svensson has 25 years of experience in residential management within SBB, Rikshem, and Akelius. The remaining members of the management team together with the Board of Directors of Sveafastigheter will be announced at a later stage. The entire management organization for SBB's residential properties has been transferred to Sveafastigheter.
For further information, please contact:
Helena Lindahl, Treasury Director, ir@sbbnorden.se, press@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. Further information about SBB is available at www.sbbnorden.se.
