Samhällsbyggnadsbolaget i Norden AB (“SBB”) has entered into an agreement to divest the properties Västerås Sågklingan 6 and Flen Vävskeden 21 to Nordisk Renting with an estimated closing date for Västerås Sågklingan 6 around the end of 2024 and Flen Vävskeden 21 during the third quarter of 2025. The lettable area for the elderly care properties is expected to total approximately 13,900 square metres. The transaction is based on an underlying property value of SEK 679 million before deduction of deferred tax of 5.15 percent, which means a total payment of approximately SEK 672 million.
The annual rental value is estimated to be approximately SEK 38 million and the transaction is made approximately 2 percent below the latest external valuation. The properties are unencumbered, which means that the entire transaction proceeds accrue to SBB. The transaction is made in the form of a company transactions and is conditional on the property subdivision regarding Västerås Sågklingan 6 being completed and the elderly care home at Flen Vävskeden 21 being completed.
“SBB has built both elderly care homes and the projects are very good examples of how value is created through active property development. The sales are being made to strengthen liquidity to enable value-creating transactions,” says Krister Karlsson, Deputy CEO at SBB.
For further information, please contact:
Krister Karlsson, Deputy CEO, [email protected], [email protected]
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.