SBB strengthens its collaboration with the Municipality of Boden by investing in new social infrastructure and at the same time signing new 35-year and 25-year lease agreements
Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) SBB strengthens its collaboration with the Municipality of Boden in a transactions that include both new investments and the extension of existing leases. This includes several parts:
- Acquisition of the so-called Medborgarhuset (a cultural centre) for SEK 31m and an investment of an additional SEK 69m in the property. The lease term is 35 years and the estimated net operating income is SEK 5m annually.
- Acquisition of approximately 10,000 sq m of BTA building rights in central Boden, where SBB will develop an elderly care unit comprising of approximately 40 apartments with the Municipality of Boden as tenant with a 25-year lease and rent regulated residentials for its own management. Total annual net operating income is estimated at SEK 10m.
- SBB and the Municipality of Boden extends existing leases for elderly care properties of approximately 15,000 sq.m. with a total rental income of approximately SEK 17m.
“The Luleå-Boden region is a growth region where we already have a strong position that we further strengthen with the cooperation with the Municipality of Boden. It feels very exciting to be able to contribute to an improved cultural offer in Boden with the investments in Medborgarhuset and to build an elderly care unit and rent regulated residentials in the best location in Boden. The fact that we, together with the Municipality of Boden, are also extending existing leases further shows the long-term nature of the collaboration with the Municipality of Boden,” says Lars Thagesson, Deputy CEO and Chief Operating Officer atSamhällsbyggnadsbolaget i Norden AB.
"It feels extremely gratifying that together with SBB we have found a long-term solution where we can now get further speed up the development and construction in Boden. These are large and extensive projects that will take some time but will also make a big and positive difference for us living in Boden,” says Claes Nordmark, Municipal Councilor at the Municipality of Boden.
For further information, please contact:
Lars Thagesson, Deputy CEO and Chief Operating Officer, +46 70 592 94 70, email@example.com
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. The Company’s preference shares (ticker SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: firstname.lastname@example.org / +46 84638300). Further information about SBB is available at www.sbbnorden.se.