SBB has sold five properties with an agreed property value of SEK 835m
Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) has sold five office properties to five different buyers in five transactions. This is the result of the new divestment strategy, where the portfolio that was planned to be sold to Nyfosa is split up and properties are sold property by property, the effect being that the purchase price SBB receives is higher. The total agreed property value of SEK 835m exceeds the book value in Q1 2020 by 6 per cent and exceeds Hemfosa's valuation from Q3 2019 by 17 per cent. Under certain conditions, SBB can receive an additional SEK 15 million in deferred purchase price consideration. SBB has thus far divested properties for a value totalling SEK 4.22 billion since 23 December 2019.
“We are experiencing a high demand for our cash flow properties. SBB’s transaction team is currently engaged in several dialogues for the sale of individual properties from the Hemfosa portfolio, and we feel comfortable in that we will be able to continue to deliverdivestments with the ambition to achieve a BBB+ rating within the next 12 months”, says Ilija Batljan, CEO and Founder of SBB.
For further information, please contact:
Adrian Westman, Head of Investor Relations
ir@sbbnorden.se
This information is information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on May 18, 2020, at 15:15 CET.
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) and D shares (short name SBB D) are listed on Nasdaq Stockholm, Large Cap. The company’s preference shares (SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: certifiedadviser@penser.se / +46 84638300). More information about the company is available at www.sbbnorden.se.