SBB initiates a collaboration with Odalen Fastigheter - builds elderly care home in Ängelholm and prepares for new construction in Gothenburg
Samhällsbyggnadsbolaget I Norden AB (“SBB”) initiates a collaboration with Odalen Fastigheter AB (“Odalen Fastigheter”) through a joint-venture company to scale up new construction of community service properties with a focus mainly on elderly care homes. The joint-venture company is already building an elderly care home in Ängelholm (a growing city located in the south of Sweden) and is preparing for new construction in Gothenburg.
In connection with its Capital Markets Day earlier in June, SBB highlighted its large building rights portfolio and the new focus on using the building rights to deliver newly built community service properties to its own property portfolio. The demand for community service properties is high, and SBB wants to use its strong financial position to support municipalities delivering on their welfare state service commitments.
As a part of this, SBB has started a joint-venture company with Odalen Fastigheter AB.The joint-venture company will primarily build elderly care homes and LSS properties (special housing for people with disabilities). The first LSS property in Ängelholm of 1,700 sq.m. with a 15-year municipal contract has already been delivered to SBB. In addition, construction is now underway of a 4,600 sq.m. elderly care home, where a 15-year lease with a private operator has been signed and where the building is expected to be completed by the summer of 2021.
The jointly owned company sees the opportunity in Ängelholm to use its building rights of an additional 14,000 sq.m. BTA to build a preschool, a school as well as apartments for the elderly . At the same time, SBB and Odalen Fastigheter have commencedpreparing for new construction on their building rights in Gothenburg, which will enable construction of 100 rent regulated residentials and an elderly care home with 100 apartments.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, 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) 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.