As a step in SBB’s efforts to eventually dissolve jointly owned residential property structures, SBB has signed a framework agreement with Riksbyggen regarding the dissolution of the joint ownership of the residential property group Unobo AB. Before the split, SBB owns 70 percent and Riksbyggen 30 percent of Unobo AB. SBB aims to coordinate its share of the properties within Unobo AB with Sveafastigheter’s residential portfolio. Riksbyggen continues to manage Unobo AB’s portfolio until the end of 2024.
‘’SBB’s new group structure follows a distinct management model and portfolio strategy. Sveafastigheter is a key holding that will own the group’s residential property holdings. We will now have the opportunity to coordinate the remaining portfolio from Unobo with Sveafastigheter, which will simplify the group structure and generate efficiency gains,” says Leiv Synnes, CEO of SBB.
The properties have been allocated based on a lettable area of approximately 500,000 square metres. Riksbyggen is acquiring properties corresponding to its share of Unobo AB at the same time as SBB is acquiring Riksbyggen’s 30 per cent share in Unobo AB, which will thus be wholly owned by SBB. Unobo AB will retain approximately 5,200 apartments spread over 63 properties totalling approximately 355,000 square metres. Most of the remaining portfolio is located in Linköping, Helsingborg and Skellefteå. The remaining properties in Unobo AB have a book value of SEK 8.4 billion as of 31 December 2023. The transaction is subject to customary completion conditions regarding the raising of financing and is expected to be completed in May.
For further information, please contact:
Helena Lindahl, Treasury Director, [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.