SBB sells to Lovisenberg for NOK 2,815 million

SBB has today sold two properties to the tenant Stiftelsen Diakonissehuset Lovisenberg. The properties being sold are the hospital on Ragnar Ströms Veg 10 in Ullensaker of which SBB owns 100 percent and an adjoining development plot of which SBB today owns 65 percent, co-owning with a local developer. The properties have an annual rental income of approximately NOK 119 million at the 2024 price level and an estimated net operating profit of NOK 114 million, implying an initial yield of 4 percent. The sale is done approximately 10 percent below book value per Q2 2023.

"The relationships with our tenants are one of our greatest assets and we have previously said that we are open to dialogues with both private and public tenants who want to acquire properties where they themselves are tenants," says Leiv Synnes, CEO of SBB.

Stiftelsen Diakonissehuset Lovisenberg is today one of the company's largest tenants and will after the sale remain a significant tenant. Handover is planned for September 29 and SBB intends to use the net proceeds from the transaction of approximately NOK 955 million to strengthen the company’s liquidity and financial position. As of this deal, SBB has now signed all deals linked to the letters of intent communicated on July 13, 2023.

For further information, please contact:
Helena Lindahl, Treasury Director, [email protected]

This information constitutes inside 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 26 September 2023 15:55 CEST.

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.