SBB sells public office buildings for SEK 1,160m
Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) sells a large public office buildings portfolio to Offentliga Hus AB for SEK 1,160m. The properties included in the transaction comprise a total of approx. 55,300 sq.m. distributed among nine properties in Halmstad (seven properties) and Borås (two properties). The rental income amounts to approximately SEK 73 million.
The portfolio comprises the properties Uranus 2 and Vulkanus 15 in Borås, together with Halmstad 6:48, Koljan 9, Rudan 5, Sankt Nikolaus 19, Slottet 4, Svartmunken 1 and Österskans 2 in Halmstad. The total agreed property value of SEK 1,160m exceeds the book value in Q1 2020 by 7 per cent and exceeds Hemfosa's valuation from Q3 2019 by 16 per cent. SBB has thus far divested properties for a value totalling SEK 5.73 billion since 23 December 2019.
“SBB's real estate portfolio is among the most liquid in the market. We are continuing to experiencing a high demand for our cash flow properties and we feel comfortable in that we will be able to continue to deliver divestments with the ambition to achieve a BBB+ rating within the next 12 months”, says Ilija Batljan, CEO and Founder of SBB.
The transaction is unconditional and completion will take place no later than 30 October 2020.
For further information, please contact:
Adrian Westman, Head of Investor Relations
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 June 9, 2020, at 08:45 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: email@example.com / +46 84638300). More information about the company is available at www.sbbnorden.se.