SBB sells 1,259 apartments for SEK 1,500m
Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) sells a large residential portfolio with 1,259 apartments to Amasten for SEK 1,500m. The properties included in the transaction comprise a total of approx. 105,000 sq.m. distributed among 22 properties in Tranås (516 apartments), Motala (476 apartments), Karlstad (244 apartments) and Skövde (23 apartments).
"For the third time in a short time in the middle of the Corona crisis, we are closing a larger sale, which once again shows the good liquidity in SBB's real estate portfolio. We are particularly proud to have successfully developed and improved the quality of this portfolio during our ownership through a large number of value-added renovations and active property development. As one of the Nordic region's largest property developers, we will continue to own and develop the building rights that exist on the properties in Motala and Karlstad, which are estimated to generate up to 40,000 sq.m. GFA building rights for social infrastructure,” comments Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB.
The transaction is conditional upon the buyer aquiring necessary bank financing and equity through a share issue. Closing is scheduled to take place on 1 July, 2020.
SBB was advised by Tango.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, ilija@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 April 28, 2020, at 17:31 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.