SBB sells building rights and acquires community service properties
Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) sells building rights for residential properties in Höganäs to K-Fast Holding AB (publ) (“K-Fastigheter”) for a total of approximately SEK 50 million. The building rights are created within SBB's existing residential properties. Closing will take place when the zooning plan becomes legally binding.
SBB also acquires two preschools in Kristianstad and an LSS property (a home for persons with certain functional impairments) in Hässleholm from K-Fastigheter for SEK 50.8 million. The total remaining lease term is approximately 18 years and the leases are 100 percent CPI adjusted.
“Our property development team continuously creates building rights within our existing properties, some building rights are used for own productionand some we sell to external parties. In the transaction with K-Fastigheter, the building rights have been key to be able to acquire two community service properties with long stable lease agreements. Our building rights are used to buy long cash flows in this case and we expect more deals where we sell building rights for cash payment or in exchange for safe cash flows,” says Oscar Lekander, Deputy CEO and Chief Operating Officer, Samhällsbyggnadsbolaget i Norden AB.
For further information, please contact:
Oscar Lekander, Deputy CEO and Chief Operating Officer, 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 rentregulated 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.