SBB has signed letters of intent for the acquisition of community service properties in Denmark for a property value of approximately SEK 540m
Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") has signed letters of intent for the acquisition of six properties in Denmark in the Copenhagen and Aarhus regions with a total lettable area of approximately 34,000 square metres of which a school property of approximately 3,400 square metres in the Copenhagen region has already closed.
Total rental income is approximately SEK 39m with a net operating income of about SEK 36m. Average duration of the contracts in the portfolio is approximately nine years. These investments further strengthen SBB's position as the Nordic region's leading player in social infrastructure.
The properties which are let to publicly funded entities are located in attractive locations in Denmark's two metropolitan regions.
"It's exciting that we now establish ourselves in Denmark and hence get exposure to all the Nordic welfare states, whilst at the same time we are looking to acquire additional community service properties in the Danish market," says Ilija Batljan, CEO and Founder of SBB.
Closing is expected to take place in the summer of 2019.
Rubik Properties and Bech-Bruun Advokatpartnerselskab have acted as SBB's advisors for the transaction that has already closed.
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.