“This means that SISAB can focus more on the city as a tenant while freeing up resources for future investments. The need for more student places remains high,” says Peter Jönsson, chairman of SISAB.

SBB's basic idea is to own and manage community properties and rental properties in the long term. A requirement when SISAB started the sale and the hunt for a buyer just before the summer.

“We are very pleased with the deal because it means that the real estate and leases are transferred to a serious buyer. It is a security for staff, parents and children in the affected businesses,” says Peter Jönsson.

SBB offers existing tenants unchanged terms and 10-year contracts.

The properties are located in attractive residential areas in western and southern cities. The total lettable area amounts to approximately 17,700 square meters and has rental income of just over SEK 25 million. All premises are fully let. The biggest tenant is Pysslingen preschools and schools AB. The value of the properties amounts to SEK 421.5 million (EUR 40 M).

Access will take place during the first quarter of 2020, subject to the decision of the City Council.

“We are following our strategy of owning community properties in the Nordic region. These are fantastic schools and preschools that we acquire from SISAB at the same time as we separately sell office properties for similar value,” says Ilija Batljan, CEO and Founder of SBB Norden.