SBB Acquires 367 Apartments in the Stockholm Region
Sweden Samhällsbyggnadsbolaget i Norden (SBB) acquires through two deals 367 apartments, of which 257 are located in Rinkeby/Tensta, and 48 apartments in Vallentuna, The deal also includes an LSS property in Täby and two residential properties in Eskilstuna.
The total lettable area comprises 32,174 sq.m.of which 3,100 sq.m is let to municipalities of Stockholm, Täby, Eskilstuna and Vallentuna, and 24,789 sq.m. are residential apartments. Total rental income is SEK 41.5 million and net operating income is approximately SEK 26 million.
"We are particularly pleased to have acquired builder family owned apartments in Rinkeby and that we also get a starting portfolio in Vallentuna which enables further acquisitions. With these acquisitions, we pass 10,000 apartments under management, of which 1,750 in the Stockholm region, which with our strong position as the Nordic region's leading player in social infrastructure properties creates continued good opportunities for value creation and growth in net asset value," says Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden.
The closing takes place preliminary on April 1, 2019.