The transaction value includes full valuation of the new school building under construction in Kongsgård All 20 which will be finalised by Entra prior to closing.
 
Samhällsbyggnadsbolaget i Norden AB is a Swedish property company in the process of being listed on Nasdaq First North. The transaction is subject to the buyer obtaining satisfactory debt financing. Closing and settlement is expected to take place around 31 March 2017 for all properties except the 2,250 sqm new school building under construction in Kongsgård All 20 where closing will take place when the new build is completed, estimated to be in June 2018.
 
The transaction is structured as a sale of four property companies owning the following properties: Tordenskioldsgate 65, Tordenskioldsgate 67, St. Hansgate 1, Lømslandsvei 24, Lømslandsvei 6, Kongsgård All 20 and Vestre Strandgate 21.

The divestment of the Kristiansand portfolio is in accordance with Entras strategy to focus the portfolio on centrally located office buildings in the four largest cities in Norway. After divesting the Kristiansand portfolio, the process of divesting geographical non-core properties is completed, and all of Entra’s properties are located in or around Oslo, Bergen, Trondheim and Stavanger.

"We are very happy to continue our development in Norway. With this acquistion we strenghten our position in the Norwegian social property segment," says Ilija Batljan, CEO of SBB.