SBB Purchases 15,000 sqm in Norway
Norway Samhällsbyggnadsbolaget purchases the Norwegian company Offentlige Bygg with three properties, in Drammen, Sarpsborg and Arendal, encompassing 15,000 sqm.
Offentlige Bygg AS owns three properties in Drammen, Sarpsborg and Arendal with a total leasable area of approximately 15,200 sqm. The portfolio is fully leased with a total rental income of approximately MSEK 27.5 (EUR 2.8M). Among the tenants, approximately 70 percent are public investors where the main tenant is the Ministry of Justice (Sarpsborg Politihus, Sarpsborgs Tingrett and Aust Agder Tingrett). Average contract length is ten years.
Samhällsbyggnadsbolaget acquired the Offentlige Bygg AS share to a set share price of approximately MSEK 90.1 (EUR 9.1M) including a company loan of approximately MSEK 273 (EUR 27M).