SBB secures an additional SEK 94m in rental income with an average lease length of 18.5 years, of which SEK 63m from elderly care homes and SEK 31m from educational facilities
Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) is currently completing on an elderly care home in Ängelholm and recently commenced building an elderly care home in Östersund. Concurrently, SBB is investing in a new school and preschool in Haninge, where Haninge municipality is the tenant. In addition, new construction of elderly care homes in Borlänge and Gothenburg are already underway.
All projects, with a rental value of approximately SEK 94m, will be completed and the tenants will have moved in during the coming 18-month period. Municipal tenants account for just over 87 percent of the total rental value.
At the end of the second quarter 2021 already, two projects will have been completed that generate the equivalent of SEK 40m in rental value.
“We are strengthening our position as the Nordic region's leading property owner of elderly care homes and schools. With these new lease agreements, we pass SEK 1.2bn in annual income from elderly care homes and LSS. Our large building rights portfolio creates further opportunities for us to achieve the goal of doubling rental income from elderly care homes and LSS to SEK 1.6bn in 2025”, says Oscar Lekander, Head of Business Development, Samhällsbyggnadsbolaget i Norden AB.
For further information, please contact:
Oscar Lekander, Head of Business Development, Samhällsbyggnadsbolaget i Norden AB, oscar@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.