Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) is selling seven properties in Norway, Finland and Sweden for an agreed property value of SEK 2,500m. Of these, SEK 2,280m is used to reduce net debt. The largest property in terms of value in the portfolio is Kunnskapsveien 55 in Lilleström in Norway with OsloMet as the largest tenant and other properties consist of public offices.
Of the sales proceeds, NOK 1,850m comes from sales to Public Property Invest AS (“PPI”), where SBB owns 48.8 percent. In connection with the transaction, SBB will invest NOK 215m in PPI. After the transaction, PPI has a total property value of approximately NOK 10 500m.
“We have a strong focus on higher ratings and sales in excess of our book values further contribute to our opportunities to strengthen the balance sheet and reduce net borrowing,” says Oscar Lekander, Deputy CEO and COO , Samhällsbyggnadsbolaget i Norden AB.
The deals are signed and completion will take place during the second quarter of 2022.
For further information, please contact:
Oscar Lekander, Deputy CEO and Chief Operating Officer, Samhällsbyggnadsbolaget i Norden AB, [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 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.