The annual rental income for the 138 properties included in the transaction (approx. 114,000 sq m of building space and 601,000 sq m of plot) amounts to approximately MNOK 251.4 and SBB's average adjusted contract length increases to nine years with the transaction. In connection with the transaction, Laeringsverkstedet will become a shareholder in SBB and the parties will commence an in-depth long-term collaboration where SBB will support Laeringsverkstedet's expansion in the Nordic region.

“This deal further strengthens our position as a market leader in the Nordic region in social infrastructure with a special focus on the absolute core business of the welfare states; healthcare, schools and care. It is also important to emphasise that over 80 per cent of the properties are adjacent to Norway's metropolitan regions and that the number of children aged zero to five is expected to increase by almost ten per cent in Norway until 2035. We also see that the deepened cooperation with the Nordic region’s leading preschool operator Laeringsverkstedet will generate additional investment opportunities to contribute to a strengthened social infrastructure throughout the Nordic region," says Ilija Batljan, CEO and Founder of SBB.

The transaction is financed at completion by MNOK 2,850 in cash and by MNOK 1,400 in D-shares, which are intended to be issued at a price of SEK 31 per D-share. Completion is scheduled for 31 August 2020.