SBB has signed letters of intent for the acquisition of six properties in Denmark in the Copenhagen and Aarhus regions with a total lettable area of approximately 34,000 square metres of which a school property of approximately 3,400 square metres in the Copenhagen region has already closed.
Total rental income is approximately MSEK 39 with a net operating income of about MSEK 36. Average duration of the contracts in the portfolio is approximately nine years. These investments further strengthen SBB's position as the Nordic region's leading player in social infrastructure.
The properties which are let to publicly funded entities are located in attractive locations in Denmark's two metropolitan regions.
"It's exciting that we now establish ourselves in Denmark and hence get exposure to all the Nordic welfare states, whilst at the same time we are looking to acquire additional community service properties in the Danish market," says Ilija Batljan, CEO and Founder of SBB.
Closing is expected to take place in the summer of 2019.
Rubik Properties and Bech-Bruun Advokatpartnerselskab have acted as SBB's advisors for the transaction that has already closed.